Bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen.
USD/CHF: franc approached the target
Recommendation: SELL 0.9525 SL 0.9580 TP1 0.9400 TP2 0.9370
On the daily chart, USD/CHF is trading within a downtrend towards 224% and 127.2% targets of AB=CD and “Crab” patterns. To activate the reversal “Wolfe waves” pattern bears have to move the pair above 0.9600.
On H1, USD/CHF reached targets of “three Indians” and “Spike and ledge” patterns. As a result, the pair reached 161.8% targets of AB=CD. This increases the risks of correction towards 0.9525. The short-term outlook for the franc will depend on this level.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen with rising lines.
On the daily chart of USD/JPY, a break of the support at 112.85 and an exit out of the upward channel may mean an implementation of reversal 1-2-3 and "Three Indians" 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...