Stocks end the mid-term bearish correction. Dax defended the 12900 support and broke the mid-term down trendline. That led us to the local resistance on 13170. With the current sentiment, that level should be eventually broken and the price should aim recent long-term highs.
Ahead of the NFP, USD is very strong. On USDJPY we are playing a bullish scenario after the false breakout from the bearish triangle. Instead of the sell signal, the price sharply reversed and broke many important resistances. We do have a buy signal on this instrument.
USDCHF is still climbing higher. After the bullish breakout from the flag and breakout of the 0.9875 resistance, the price tested that level as a support and drew a beautiful hammer. That confirmed the buy signal here so there is no surprise that the price is sharply advancing higher.
Ahead of the NFP, USD is very strong. On USDJPY we are playing a bullish scenario after the false breakout from the bearish triangle. Instead of the sell signal, the price sharply reversed and broke many important resistances. We do have a buy signal on this instrument.
USDCHF is still climbing higher. After the bullish breakout from the flag and breakout of the 0.9875 resistance, the price tested that level as a support and drew a beautiful hammer. That confirmed the buy signal here so there is no surprise that the price is sharply advancing higher.