Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen.
USD/CHF: franc wants out of the range
TP1 0.9755 TP2 0.973 TP3 0.9625
On the daily chart, USD/CHF keeps consolidating in the 0.9855-0.9995 range within the previous uptrend channel. A break of its upper border will give bulls hope for reaching the target of “Wolfe waves” pattern. On the other hand, a decline below support at 0.9855 will open the way further down.
On H1, bears are still hoping to trigger the “Broadening wedge”. For that they need a successful test of support at 0.9855. The decline to 161.8% target will become more likely in this case.
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a weak golden cross of Tenkan-sen and Kijun-sen.
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.
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...