Bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen.
USD/CHF: bulls try to restore uptrend
Recommendations: BUY 0,978 SL 0,9725 TP 0,995.
On the USD/CHF daily chart, the first attempt of Bulls to test the resistance at 0.9785 and activate the Double bottom reversal pattern has failed. Nevertheless, they still rekindle dream of a correction towards 0.985 and 0.995.
On the USD/CHF hourly chart, the expanding wedge reversal pattern was formed. Rollbacks towards 50% and 61.8% levels of the 4-5 wave can be used for opening long positions. In the short-term, we expect an uptrend recovery.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
On the daily chart of USD/CAD, bulls almost returned the pair to the 1.3275-1.3315 convergence (targets of "Shark" and "Wolfe waves" patterns).
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...