USD/CHF: bears showed weakness

USD/CHF: bears showed weakness


BUY 0.9985

SL 0.9940

TP1 1.0085 TP2 1.0155 TP3 1.0185

On the daily chart, USD/CHF is pulling back to the medium-term uptrend. Bears failed to form “Spike and ledge” and bulls returned the initiative. Buyers are counting on a break of resistance at 0.9985 and continuation towards 113% target of the “Shark”.  


On H1, USD/CHF is forming a “Broadening wedge”. To finish the graphical configuration, it needs to overcome resistance at 0.9985. As a result, a point 5 will form.



USD/JPY: bears prepared a trap

On the daily chart of USD/JPY, bears are still hoping on the formation of the “Bat” in case of a break below the lower border of the uptrend channel.

EUR/JPY: inside bar will show the way

On the daily chart, EUR/JPY bulls are counting on the break of the upper border of the descending trend channel and advance to 88.6% target of the “Shark” pattern.


USD/JPY: dollar is overbought

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen; Dollar is going to positive area, but the market is overbought now.


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