USD/CHF can go down
Read the article on FBS website
Recommendation:
SELL 0.9580
SL 0.9635
TP1 0.9480 TP2 0.9375 TP3 0.9285
On the daily chart, bulls formed a pinbar and counterattacked. USD/CHF reached 0.9630 (50% of the medium-term rising wave), although the diagonal resistance in form of the upper border of the downtrend channel is a more serious obstacle.
On H1, USD/CHF is forming the final stage of the “Broadening wedge” pattern. The inability of bulls to push the pair above resistance at 78.6% and 88.6% of the wave 4-5 will point at their weakness.
