Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen.
USD/CHF: bears saw a dragon
Recommendation: BUY 0,9765 SL 0,971 TP1 0,985 TP2 0,9895.
On the USD/CHF daily chart, quotes reached the lower border of the downward trading channel and rebounded from support located at 0.9715 (78.6% of the last upward wave). These factors increase the risks of correction towards the medium-term downtrend (towards 0.985).
On the USD/CHF hourly chart, there is a formation of the Dragon reversal pattern. A break of the resistance at 0.9765 can lead to the continuation of the rally and the formation of the Dragon's head. The Bat pattern that lies in the basis of the current reversal helps us to identify the current the interim target at 0.9815.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with expanding channel Tenkan-Kijun.
On the daily chart, bulls are trying to return USD/CAD inside the long-term uptrend channel.
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...