Recommendations: SELL 0…
USD/CHF: bulls are in defense
TP1 1.0005 TP2 1.0045 TP3 1.0145
On the daily chart, USD/CHF came to the lowest border of the uptrend trade channel and important support in the 0.9882-0.9891 area. If bulls manage to push the pair above these levels, risks of the uptrend’s resumption towards 161.8% of AB=CD will increase.
On H1, USD/CHF is retesting the neckline of “Head and Shoulders”. The pullback with the following successful test of resistance at 0.9940-0.9945 will trigger a “Crab” pattern with the target at 161.8%.
Recommendations: SELL 1…
Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines; the market had corrected to Tenkan-sen and ready to continue the main trend.
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.