USD/CHF: the franc is gaining strength

USD/CHF: the franc is gaining strength


SELL 1.0045 SL 1.01 TP1 0.9945 TP2 0.99 TP3 0.983

On the daily chart of USD/CHF, there is a transformation of the "Shark" pattern into 5-0. The pair needs to break the parity level and update the November's maximum to continue rising towards the targets of "Wolfe Waves" and AB=CD patterns.


On H1, the implementation of the "Spike and Ledge" and "Broadening Wedge" patterns continues. The rebound from the 1.002 and 1.0045 resistances (50% and 61.8% from the 4-5 wave) can be used to open short positions. 



Levels to trade EUR/USD

EUR/USD has turned up from the 50-day MA at 1.1715 yesterday. This is a sign that buyers are strong. Still, the short-term resistance line limits the upside at 1.1870.

USD/JPY: target for selling

The resistance line is limiting USD/JPY on the upside and, unless the pair tries for a breakout (which anyway will meet resistance at 106.50 and 106.80), the easiest path for it will be to go down.

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