USD/CHF: bulls are stubborn

USD/CHF: bulls are stubborn


BUY 0.965

SL 0.9495

TP1 0.9745 TP2 0.9785

On the daily chart, bulls are still hoping to form a “Dragon” pattern. The first step will be the pair’s exit out of the short-term consolidation range between 0.9575 and 0.9650. The second step will be a successful attack on diagonal resistance. Only if these 2 conditions are met, USD/CHF will get a chance to rise to 0.9785 and higher.


On H1, USD/CHF is forming the “Dragon’s head”. To complete it, it needs to overcome resistance at 0.9650. In this case, the activation of AB=CD with the target at 161.8% will become more likely.




USD/JPY: the Bulls don’t want to give up

Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but narrowing channel of Tenkan-Kijun; the market is breaking out the resistance of Tenkan-sen and Kijun-sen.

AUD/USD: market is oversold

Bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; the market is oversold and aussie may go to Tenkan-sen in correctional movement.



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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