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: yen got lost
BUY 110.5 SL 109.95 TP1 111.5 TP2 112.5 TP3 114.5
SELL 109.4 SL 109.95 TP1 108.4 TP2 107.2 TP3 106.05
On the daily chart of USD/JPY, the inability of bears to pull the pair below the uptrend channel points at their weakness. If bulls manage to overcome resistance at 110.95, the odds of the pair going to 200% of the AB=CD will increase.
On H1 of USD/JPY, a break of resistance at 110.5 will trigger “Wolfe waves” pattern with targets above 111.5. To develop a correction, bears need to pull the pair below support at 109.4.
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...