On the daily chart, GBP/USD pulled back after 88.6% target of the “Bat”. Bulls managed to defend 1.3050-1.3065 and play the Inside bar.
USD/CHF: franc is following a shark
TP1 0.9515 TP2 0.96 TP3 0.977
On the daily chart of USD/CHF, bulls are gradually moving towards triggering the “Shark” pattern and its 88.6% target. The conditions necessary to continue the rally include the pair’s settling above support at 0.9380 and advance above resistance at 0.9450.
On H1 of USD/CHF, another test of resistance at 0.9410-0.9415 will increase the odds of a “Shark” pattern with a target at 88.6%. At the same time, the AB=CD pattern with targets at 200% and 224% will become viable.
USD/CHF reached 0.9630 (50% of the medium-term rising wave), although the diagonal resistance in form of the upper border of the downtrend channel is a more serious obstacle.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a dead 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...