Analyzing the medium-term charts of the euro and the British pound, we see that currency bulls fought fiercely with their rivals during recent weeks. Despite several attempts to push both currencies lower, they successfully defended their main strongholds in both cases and defeated fans of the greenback. What does this mean for the U.S. currency and its European competitors?

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Although USD/CHF climbed to an important resistance zone, daily indicators generated sales signals and a pro-bearish candlestick formation appeared on the daily chart, the sellers weren’t unable to generate a sizable move to the downside, which could take USD/CHF to the south. What bothers them so much?

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On Friday, the British pound showed strength against the greenback, which resulted in an invalidation of the breakdown under the long-term support line. The closure of the week above this important line emphasized the advantage of currency bulls over their rivals. What a pity that they rested on their laurels.Why? Because yesterday’s session erased most of the earlier rebound. This bucket of cold water, however, awakened the buyers who returned to the game for higher levels. What must they do to make GBP/USD grow above 1.3000?

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Today's session brought one more upswing, which took USD/JPY above the June high. Positive price action? Yes. Is it effective? This is a completely different story. If you want to know why bulls may have difficulties in the coming days, check this Forex Trading Alert.

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The recent dynamic growth of the US dollar pushed USD/CAD to the fresh 2018 peaks. However, analyzing the charts it seems that the good streak of currency bulls has probably come to an end. Where such bleak assumptions come from? We have found 6 solid arguments, which do not bode too well for this currency pair at the beginning of next month. Do you want to know them too?

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