USD/CHF: franc got onto the ledge

USD/CHF: franc got onto the ledge

Recommendation:

SELL 0.9310 SL 0.9365 TP1 0.9210 TP2 0.9110 TP3 0.9030

BUY 0.9395 SL 0.9340 TP 0.9465 TP2 0.9500 TP3 0.9600

On the daily chart, USD/CHF formed a short-term consolidation. A decline below January low will allow the pair to continue the decline towards 161.8% target of the “Crab” pattern. The nearest resistance levels are near 0.9410 and 0.9485.

CHF1.png 

On H1, there’s a “Spike and ledge” pattern. A break of the lower border of the 0.9310-0.9395 consolidation range will open the way down for bears. On the other hand, successful test of resistance at 0.9395 will increase the odds of a pullback.

CHF2.png

chf

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GBP/USD is losing ground

On the daily chart, GBP/USD keeps correcting to the long-term uptrend. Bulls tried to return the pair inside the previous consolidation range of 1.3455-1.3615.

gbp
USD/CHF: franc is showing signs of live

USD/CHF is correcting to the long-term bullish trend. To break the trend, the pair has to get out of the uptrend channel and form a “Spike and reversal with acceleration”.

chf
GBP/USD: pound may continue downtrend

Expanding bearish Ichimoku Cloud with falling Senkou Span A; a new cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market tested Kijuns’s resistance and returned to Monday’s lows.

gbp

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