USD/CHF may test lower levels this week as long as it keeps trading below the resistance at 1.01.
USD/CHF: bears are confused by a triangle
SELL 0.9775 SL 0.983 TP1 0.9675 TP2 0.964
BUY 0.9925 SL 0.987 TP1 1.0025 TP2 1.0145
On the daily chart, USD/CHF bears managed to lower the pair below important support at 0.9880-0.9890. They are focused on testing the lower border of an uptrend channel. The presence of a triangle means that to continue the way down the pair has to go below support at 0.9775.
On H1, to resume the rally bulls have to form a double bottom and then return the pair inside the uptrend channel.
The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
USD/JPY formed a big bearish candlestick yesterday that almost engulfed the previous bullish one.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...