USD/ZAR recoiled down from the resistance line connecting October highs and slipped under the daily moving averages.
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.
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...