USD/CHF: a negative signal

USD/CHF: a negative signal

Recommendation:

SELL 0.9415

SL 0.9470

TP1 0.932 TP2 0.926 TP3 0.9225

On the daily chart of USD/CHF, bulls tried twice to overcome resistance at 0.9475 and both times failed. It points at their weakness and increases the possibility of the pair’s decline below the lower border of the uptrend channel and further resumption of the downtrend.

CHF1.png 

On H1, there’s a “Three Indians” pattern. A break of support at 0.9415 and getting outside of the bullish channel will trigger the “Shark” pattern.

CHF2.png

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Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.

GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

Latest news

XAU/USD: a short-term trade

Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.

GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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