USD/CHF: franc is hunting sharks

USD/CHF: franc is hunting sharks


SELL 0.9325 SL 0.938 TP1 0.9255 TP2 0.9220

BUY 0.9475 SL 0.9420 TP1 0.9610 TP2 0.9715 TP3 0.9780

On the daily chart of USD/CHF, bulls need to rise above resistance at 0.9475 and trigger the “Shark” pattern. This is a signal of their weakness. Currently, bulls and bears are fighting for 0.9380. The further face of franc depends on the result of this battle.


On H1, the decline of USD/CHF below support at 0.9340 and 0.9325 allows triggering the “Shark” pattern and AB=CD. Their 88.6% and 200% targets correspond to 0.9255 and 0.9220.




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.

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”.

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.



Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

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