The USD/CHF pair has...from CLOVER GOLD FX

The USD/CHF pair has continued its bearish momentum, currently trading near 0.8230 as shown on the daily chart, which aligns with the completion of a Wave (4) corrective structure under the Elliott Wave principle. The technical setup indicates that the market is now preparing for the final Wave (5) leg to the downside, suggesting further weakness toward the 0.8000 or possibly 0.7800 levels. This move is being supported by a broader bearish impulse sequence, despite the upbeat US Non-Farm Payroll (NFP) data for April. Interestingly, the US Dollar failed to gain traction from the strong employment report, likely due to market reactions to President Trump’s public pressure on the Federal Reserve to lower interest rates via Truth Social. Meanwhile, investors are now eyeing the upcoming Swiss Consumer Price Index (CPI) data scheduled for Monday, which could further impact the Swiss Franc's strength and drive the next leg of this anticipated downward wave.

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The complex correction is finally behind us, and the structure is shifting back to an impulsive phase. This is exactly why we don’t force trades during the chop, we simply wait for the clear path to reveal itself. Now that the roadmap is defined, the real opportunity begins. Patience pays.

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EURGBP is respecting a well defined ascending support line, showing that buyers continue to defend higher lows despite recent corrective pressure. After forming a symmetrical triangle between wave W and wave X the pair broke to the upside, completing wave Y and creating a three-wave corrective structure labeled A B and C. Price has now tapped the ascending support at point C indicating the correction may be complete and suggesting the potential beginning of a fresh bullish impulse. As long as this support trendline holds the market structure favors an upward continuation, with buyers likely aiming for a retest of previous highs.

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XAUUSD shows a clear bullish structure supported by repeated demand reactions and a well respected ascending trend support that confirms strong buyer control. The market created higher lows and higher highs which signals healthy continuation momentum while the recent impulsive move left an imbalance gap that often attracts price for mitigation before continuation. Demand zones below act as a solid base where institutions previously accumulated positions which increases the probability of bullish defense on pullbacks. From a fundamental perspective gold remains supported by global economic uncertainty expectations of easing monetary policy and ongoing demand for safe haven assets which aligns with the technical bullish outlook. As long as trend support and demand remain intact the bias favors continuation toward the next demand area above with pullbacks viewed as potential buying opportunities rather than trend reversal signals.

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