The pair’s continuing the overall downtrend since October as it breached down the wedge earlier this month.
USD/CHF: franc is falling down
On the daily chart, bears are trying to resume the downtrend. If they manage to get below June low, the possibility of the decline to 127.2% and 224% targets of “Crab” and AB=CD patterns will significantly increase.
On H1, USD/CHF formed “Three Indians” pattern. Bears are currently trying to pull the pair outside of 0.9600-0.9690 consolidation range within “Spike and ledge” pattern. Success in this will slow seller to continue the decline.
USD/SGD has rebounded from the 50-week MA (1.3520) and is now retracing November-January decline.
If this week the Aussie closes in the negative area, it will continue towards the lower levels in line with the long-term downtrend.
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...