Expanding bullish Ichimoku Cloud with rising Senkou Span A; a newgolden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen.
USD/CHF: bulls showed weakness
On the daily chart, bulls didn’t manage to push USD/CHF above resistance at 0.9770 and this is the sign of their weakness. A successful test of the diagonal support in the form of the lower border of the uptrend channel will lead to the resumption of the bearish trend. On the contrary, the bounce up from this level will create a base for consolidation in the 0.9675-0.9775 area.
On H1, bulls still retain hopes for the “Crab” pattern. To reach 161.8% target the pair has to overcome resistance at 0.9770 and 0.9805.
Extremely narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a new golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen.
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...