EUR/JPY broke key support level 131…
USD/CHF broke multi-month support level 0.9550
- USD/CHF broke multi-month support level 0.9550
- Next sell target - 0.9450
USD/CHF has been under strong bearish pressure lately – following the earlier breakout of the strong multi-month support level 0.9550 (which had reversed all strong downward impulse waves from June of 2016, as can be seen below). The breakout of the support level 0.9550 accelerated the active impulse wave C, which belongs to the intermediate ABC correction from last December. USD/CHF can be expected to fall to the next sell target at the next support level 0.9450 (target price calculated for the termination of the active impulse wave C).
There isn't any reversal pattern so far. If the 21 MA acts as resistance, we're likely going to have just another decline...
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; the prices are returned to the support of Tenkan and Kijun and may go higher.
Narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls can’t breaking out the resistance of upper border of the Cloud and the market may return to 113.00.