USD/JPY: the Dollar tested a Cloud’s resistance
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen.
USD/CHF: franc painted a triangle
Recommendation:
SELL 0.9930
SL 0.9985
TP1 0.9875 TP2 0.9865 TP3 0.9735
On the daily chart, USD/CHF is forming a “Triangle”. A break of its upper border near 1.0070 will open the way to the target of “Wolfe waves” pattern for buyers. On the other hand, if the pair leaves the uptrend channel, a “Double top” may form.
On H1, if USD/CHF successfully pushes below support at 0.9930, the risks of getting to 88.6% and 261.8% targets of “Shark” and AB=CD will increase. They form a convergence area of 0.9875-0.9880.
Ivan Karamazov
Similar
AUD/USD: aussie inside a Cloud yet
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a weak golden cross of Tenkan-sen and Kijun-sen.
USD/CHF: the franc is weak
On the daily chart of USD/CHF, there was a rebound to the 23.6% level from the CD wave of the junior “Shark” pattern within its transformation to the 5-0 pattern.
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