Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
USD/CHF: the franc has paused
BUY 1.0055 SL 1.00 TP 1.0145 TP2 1.0245 TP3 1.0345
SELL 0.996 SL 1.0015 TP1 0.987 TP2 0.977 TP3 0.972
On the daily chart of USD/CHF, there is a consolidation in the range of 0.996-1.0055 within the uptrend. A break of its upper boundary will let the pair move upward to 113% target of the “Shark” pattern. Alternatively, a break of the consolidation’s bottom line will increase risks of the correction to 78.6% and 61.8% from the XC wave.
On H1, if the “Bat” pattern is implemented, bears will be able to pull the pair to 0.996.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen
On the daily chart of USD/JPY, after the pair reached 113% target of the “Shark” there was a natural pullback.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
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