Recommendations: SELL 0…
USD/CHF: bulls want revenge
TP1 0.9765 TP2 0.986
On the daily chart, a double bottom allows the bulls to retain hopes of finishing a “Dragon” pattern. To do it they have to return the quotes to resistance levels at 0.9650 and 0.9765 and conquer them.
On H1, a successful test of resistance at 0.9640 (upper border of the downtrend channel) will increase the risks of an inverted butterfly pattern. Its 127.2% target corresponds to 0.9860.
Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; the falling lines Tenkan-sen and Kijun-sen; the market made a new lows since Nov 2016.
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen with the horizontal lines; the market had returned to negative area.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.