Thursday mixed economic data didn’t let the US dollar index to break the psychological level at $95.
USD/CHF: franc is resuming a trend
SELL 0.9825 SL 0.988 TP1 0.9725 TP2 0.962 TP3 0.9515
BUY 0.9915 SL 0.986 TP1 1.0015 TP2 1.0055 TP3 1.0115
On the daily chart, USD/CHF is forming a “Spike and reversal with acceleration”. Bears managed to keep the pair below the trendline of the initial stage. This means that they are serious. If the pair returns inside the downtrend channel, this will increase the risks of the long-term bearish trend.
On H1 of USD/CHF, the advance of the pair to the resistance at 0.9913 with the following increase above it, will trigger the reversal “Broadening wedge” pattern.
On the daily chart of USD/JPY, bears are still hoping on the formation of the “Bat” in case of a break below the lower border of the uptrend channel.
On the daily chart, EUR/JPY bulls are counting on the break of the upper border of the descending trend channel and advance to 88.6% target of the “Shark” pattern.
Recommendations: SELL 1282 SL 1297 TP1 1252 TP2 1244 TP3 1215 BUY 1308 SL 1293 TP1 1325 TP2 1335 TP2 1349 On the daily chart of XAU/USD, the 1282-1308 consolidation continues…
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen; Dollar is going to positive area, but the market is overbought now.
USD/CAD rising inside minor impulse wave 3 Next buy targets - 1…