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 has a chance
SELL 108.35 SL 108.90 TP1 107.2 TP2 106.95 TP3 106.05
BUY 109.05 SL 108.5 TP1 109.95 TP2 110.3 TP3 111.15
On the daily chart of USD/JPY, a “Shark” is transforming into 5-0. Pullbacks towards 23.6%, 38.2% and 50% of the wave CD are usually used for opening long positions. A decline below 78.6% and 88.6% signals the resumption of the long-term downtrend.
On H1, USD/JPY bulls are getting ready to form the reversal pattern “Wolfe waves” and try to resume the short-term uptrend with its help. On the other hand, a break below support at 108.35 will open the way down to the pair.
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...