USD/CHF: franc stumbled across doji-bar

USD/CHF: franc stumbled across doji-bar

On the USD/CHF daily chart, the formation of doji-bar with the long upper shadow tells us about the Bulls’ weakness. Bears are ready to restore the downward trend towards target 224%, 127.2% in the AB=CD and Crab patterns. But before this, they need to test the support at 0.9636 (88.6% from the XA wave).


On the USD/CHF hourly chart the inability of Bulls to push quotes beyond the borders of the downward trading channel and return of quotes to the borders of the upward trading channel will tell us about their weakness.





USD/TRY has moved sharply down this week falling to the support line since the end of November.

Trade ideas for gold

The downside correction is long due in XAU/USD. Gold is stuck ahead of resistance at 1298.50.

Latest news

GBP/USD: confirmed "Thorn" 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...


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