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 wants out of the range
Recommendation:
SELL 0.9855
SL 0.9910
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.
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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