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 too excited
On the USD/CHF daily chart, the realization of the Wolf Waves pattern continues An update of the April high will allow the bulls to count on the continuation of the rally and the implementation of the 1.0203 target. If they succeed, the chances for the implementation of the 88.6% target in the Shark reversal pattern will increase significantly. The nearest support can be found near 1.004.
On the USD/CHF hourly chart, buyers are trying to test an important level of 1.0095. Its breakout followed by the successful test of the resistance at 1.013 can lead to the restoration of the bullish trend.
Recommendation: hold long positions (BUY 1,0035 SL 0,9980 TP1 1,013 TP2 1,0205)
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...