On the daily chart, GBP/USD pulled back after 88.6% target of the “Bat”. Bulls managed to defend 1.3050-1.3065 and play the Inside bar.
USD/CHF: bulls need to arm themselves with patience
Recommendation: BUY 1,0085 SL 1,003 TP 1,02.
On the USD/CHF daily chart, the bulls failed to consolidate above the upper border of the downward trading channel. This tells us about their weakness. To restore the long-term uptrend, the upper border of the triangle near the 1.0085. mark should be broken. Then, the bulls will be able to hit a target in the "Wolf Wave" pattern.
On the USD/CHF hourly chart, there can be a rebound from current levels (61.8% of the last downward wave + historical support). But for this to happen the bulls should arm themselves with patience.
USD/CHF reached 0.9630 (50% of the medium-term rising wave), although the diagonal resistance in form of the upper border of the downtrend channel is a more serious obstacle.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen but narrowing channel Tenkan-Kijun.
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...