Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
USD/CHF: bulls got a chance
TP1 0.968 TP2 0.974 TP3 0.979
On the daily chart of USD/CHF, bulls managed to push the pair out of the long-term downtrend channel and implement the “AB=CD” pattern with the 224% target. To continue the rally, the pair should break the resistance at 0.9811.
On H1, the “Spike and reversal with acceleration” pattern is implemented. The bullish trend will continue until the pair falls below the bottom boundary of the uptrend. Pullbacks to supports at 0.958 and 0.9555 may be used for long positions.
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with rising lines.
On the daily chart of EUR/GBP, bears couldn't break the support at 0.87 ( the bottom line of the longterm consolidation within the "Spike and ledge" pattern)
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...