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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On H1 of EUR/USD, bulls want to trigger “Wolfe waves” pattern with a target at the line 1-4. At the same time, if the pair doesn’t leave the downtrend channel, their plans will fail.  

USD/JPY: the Bears have won

Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines

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