Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
USD/CHF: bulls are destroying obstacles
TP1 0.9810 TP2 0.9860 TP3 0.9945
On the daily chart, USD/CHF reached 88.6% and 261.8% targets of the “Shark” and AB=CD. This increases the risks of a correction. To continue the way up, the pair needs to overcome resistance at 0.986 and 0.9945.
On H1, USD/CHF keeps forming “Spike and reversal with acceleration”. As long as the pair is above the trendline of the initial stage (0.96-0.9625), bulls will be in control of the market. Pullbacks of support at 0.9750 and 0.9710 may be used for buying.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen
On the daily chart of USD/JPY, after the pair reached 113% target of the “Shark” there was a natural pullback.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
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