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USD/CHF: bulls want revenge

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Recommendation:

BUY 0.964

SL 0.9585

TP1 0.9765 TP2 0.986

On the daily chart, a double bottom allows the bulls to retain hopes of finishing a “Dragon” pattern. To do it they have to return the quotes to resistance levels at 0.9650 and 0.9765 and conquer them.

CHF1.png 

On H1, a successful test of resistance at 0.9640 (upper border of the downtrend channel) will increase the risks of an inverted butterfly pattern. Its 127.2% target corresponds to 0.9860.

CHF2.png

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