Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
USD/CHF: franc is dreaming about a wedge
TP1 0.9875 TP2 0.9985
On the daily chart, USD/CHF keeps forming the reversal “Dragon” pattern. The main task of the bulls is to bring the quotes outside of the downtrend channel with the following test of resistance at 0.9830.
On H1, there's a “Spike and ledge” pattern. A successful test of the upper border of the 0.9715-0.9805 consolidation range (“ledge”) will increase the odds of the downtrend’s resumption. On the other hand, a break of support at 0.9715 will trigger the reversal “Widening wedge” pattern.
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with rising lines.
On the daily chart of EUR/GBP, bears couldn't break the support at 0.87 ( the bottom line of the longterm consolidation within the "Spike and ledge" pattern)
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...