On the daily chart, EUR/USD managed to rise above resistance at 1.1750 and lead the pair out of the medium-term consolidation range (1.15-1.1750).
USD/CHF: franc is at a crossroads
On the USD/CHF daily chart bears managed to return quotes to the important support at 1.004. Breakout of the lower border of the upward trading channel can lead to the correction. The bulls don't lose hopes for the implementation of the targets in the Wolf Waves and Shark patterns. To implement them, they need to update April high.
On the USD/CHF hourly chart, quotes went beyond the rising trading channel and formed a downward triangle. A successful test of its lower border can lead to the development of correction towards 0.995.
SELL 1,001 SL 1,0065 TP 0,995,
BUY 1,0085 SL 1,003 TP 1,02.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but narrow channel Tenkan-Kijun.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but narrowing channel Tenkan-Kijun.
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...