USD/CHF: bulls are stubborn
Read the article on FBS website
Recommendation:
BUY 0.965
SL 0.9495
TP1 0.9745 TP2 0.9785
On the daily chart, bulls are still hoping to form a “Dragon” pattern. The first step will be the pair’s exit out of the short-term consolidation range between 0.9575 and 0.9650. The second step will be a successful attack on diagonal resistance. Only if these 2 conditions are met, USD/CHF will get a chance to rise to 0.9785 and higher.
On H1, USD/CHF is forming the “Dragon’s head”. To complete it, it needs to overcome resistance at 0.9650. In this case, the activation of AB=CD with the target at 161.8% will become more likely.
