USD/CHF: bulls rebuffed an attack

USD/CHF: bulls rebuffed an attack


BUY 0.9610

SL 0.9555

TP1 0.9710 TP2 0.9750 TP3 0.9795

On the daily chart of USD/CHF, bulls managed to keep the pair from returning inside the downtrend. The pair formed a doji bar. Advance above its high and resistance at 0.9611 will giver buyers hope for growth to 88.6% and 224% of the “Shark” and AB=CD.


On H1, a pullback from the lower border of the uptrend channel within the “Spike and reversal with acceleration” shows that bulls have strength. Advance above resistance at 0.9610 will increase the odds of AB=CD pattern.




GBP/USD is losing ground

On the daily chart, GBP/USD keeps correcting to the long-term uptrend. Bulls tried to return the pair inside the previous consolidation range of 1.3455-1.3615.

USD/CHF: franc is showing signs of live

USD/CHF is correcting to the long-term bullish trend. To break the trend, the pair has to get out of the uptrend channel and form a “Spike and reversal with acceleration”.

GBP/USD: pound may continue downtrend

Expanding bearish Ichimoku Cloud with falling Senkou Span A; a new cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market tested Kijuns’s resistance and returned to Monday’s lows.



Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

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