Daily Market Analysis

CHF/JPY reached buy target 114…

The 55 Moving Average is acting as resistance, so we've got a "Doji" and an "Engulfing" at the local high.

We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.

There's a bearish impulse, which could be wave i of (i). 8/8 MM Level has acted as resistance twice.

Today the OPEC members are set to discuss in Vienna whether to prolong a production cut agreement reached in November 2016…

We've got a "Double Bottom", so the price has reached resistance at 1.2988. Also, there's a triangle.

We've got a "Triple Bottom" pattern, so the price is rising. Therefore, bulls are likely going to test the next resistance.

Recommendations: BUY 1,3035 SL 1,298 TP1 1,31 TP2 1,3135, SELL 1,293 SL 1,2985 TP 1,278…

Recommendations: hold long positions (BUY 0,695 SL 0,6895 TP 0,708), BUY 0,6995 SL 0,694 TP1 0,712 TP2 0,734…

The US dollar dropped against many major currencies on less hawkish FOMC meeting minutes…

Narrow bullish Ichimoku Cloud; horizontal Senkou Span A, but rising Senkou Span B; an irregular dead cross of Tenkan-sen and Kijun-sen over the Cloud; the prices are supported by Cloud and may go higher.

Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, rising Kijun-sen; the prices are under daily resistance 1.1250-1.1300.