USD/CHF: bulls showed weakness

USD/CHF: bulls showed weakness

Recommendation

BUY 0.9770

SL 0.9715

TP 0.9925

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.  

CHF1.png

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.

CHF2.png

chf

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A successful test of the lower border of the 1.2730-1.2920 consolidation range with the following renewal of May high opens the way up to 127.2% target of AB=CD.

cad
Gold is moving in channels

Recommendation: SELL 1311 SL 1326 TP1 1281 TP2 1272 TP3 1250 SELL 1280 SL 1295 TP1 1250 TP2 1244 On the daily chart of USD/XAU, bulls have to break resistance at 1302…

USD/JPY: the Dollar reached 111.50

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices are reached the main daily resistance on 111.50 and the market is overbought now.

jpy

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