Volatility has greatly diminished in USD/JPY. The pair is consolidating in a narrow range on H4, and a breakout is coming.
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.
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...