Bullish Ichimoku Cloud, but falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with extremely falling lines.
USD/CHF: preparing for a rally
TP1 0.9890, TP2 1.0025
On the daily chart, USD/CHF keeps trading within the “Wolfe waves” pattern. Bulls managed to keep the pair above support at 0.9650. If the pair rises above July high, it will continue going up towards 1.0025-1.0030. Here there’s target of the reversed “Shark” pattern.
On H1, the pair finishes forming the “Dragon” pattern. The pair’s currently testing the head of the dragon located at the level of the dragon’s curling tail. USD/CHF is consolidating in the 0.9635-0.9720. The break above the upper border will strengthen the odds of a further rally.
On the daily chart of AUD/USD, after the pair reached the 88.6% target of the "Shark" pattern, a logical pullback happened.
Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
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...