On the daily chart of USD/CHF, there was a rebound to the 23.6% level from the CD wave of the junior “Shark” pattern within its transformation to the 5-0 pattern.
USD/JPY: dollar in consolidation
Technical levels: support – 110.50; resistance – 110.70, 111.10.
- Buy — 110.50; SL — 110.30; TP1 — 111.10; TP2 — 111.60.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a correctional dead cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen; the prices are in consolidation movement above the Cloud’s upper border.
On the daily chart of GBP/USD, bulls managed to hold the pair above the support at 1.3065 and above the upper boundary of the downward channel.
On the daily chart of USD/JPY, bears failed to break below the bottom line of the upward channel within the implementation of the “Three Indians” pattern.
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...