Recommendations: SELL 0…
USD/CHF: bulls counterattack
TP 1.0015 TP2 1.0045 TP3 1.026
On the daily chart, USD/CHF bears failed to form a “Triangle” pattern and return the pair inside the long-term downtrend. If bulls manage to move the pair towards resistance at 0.9915 and conquer it, the risks of reaching 161.8% of the AB=CD pattern will increase.
On H1, the return of USD/CHF to the previous consolidation range of 0.9840-0.9915 and formation of the patterns “Crab” and “Shakeout-Fakeout” means that bulls have the initiative.
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.