Your weekly outlook of technical patterns and structure.

The research team scans the financial markets for you, highlighting clear and actionable technical structures.

Forex: EUR/CHF Welcomes the 200-Day SMA

Daily Timeframe –

Despite being on track to record its third consecutive day in positive territory, the EUR/CHF currency pair is attempting to tackle the underside of its 200-day simple moving average at CHF0.9832. In addition to price trending south since the beginning of the year, the 200-day simple moving average benefits from a Fibonacci cluster around CHF0.9834. Therefore, the combination of these technical observations could have sellers put in an appearance around the current price.

Commodities: Harmonic Bat Pattern for Spot Silver (XAG/USD)?

Daily Timeframe –

With the recent break to fresh lows (nudging beneath $22.68 [26 May low]), Harmonic traders will acknowledge the possibility of follow-through selling in the direction of a Bat pattern’s potential reversal zone (PRZ) visible between $20.16 and $20.87.

Equities: Bullish Flag Pattern Seen on the Nikkei 225

Daily Timeframe –

Japan’s Nikkei 225 has rallied strongly since mid-March, boasting limited price corrections (the largest correction was around 4.0% earlier this month).

Since clocking a high of 33,772 on 16 June, the major equity index has established a potential bullish flag pattern between 33,772 and 33,186 (considered a continuation configuration). A breakout beyond the upper boundary of the noted pattern may encourage breakout buying; a common take-profit objective is formed by extending the value of the flag pole from the breakout point.

Cryptocurrency: BTC/USD Confronting Major Resistance

Weekly Timeframe –

Week to date, BTC/USD has staged a spirited recovery (+14%), following a modest rebound from weekly support at $25,381 the week prior. As evident from the chart, this has lifted the major cryptocurrency to a familiar weekly resistance at $30,664. Continued outperformance, in line with the current uptrend, could unmask weekly resistance at $32,933.

Charts: Trading View

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