USD/TRY has moved sharply down this week falling to the support line since the end of November.
USD/CHF: franc was caught by the dragon
TP1 0.9915, TP2 1.0000.
On the daily chart, bulls managed to return the pair inside the previous descending channel. As a result, the risks of correction to the current bearish trend increased. Buyers firstly have to conquer resistance at 0.9716 and then trigger the “Shark” pattern. Upside targets are at 0.9917 and 1.0050.
On H1 USD/CHF is finishing the “Dragon” pattern. In the case of the resistance’s break at the level of the “Dragon’s head", bulls will have good chances for the continuation of the rally.
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...