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USD/CHF: franc was eaten by a shark

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Recommendation:

BUY 0.9645

SL 0.9590

TP1 0.9745 TP2 0.9755 TP3 0.9780

On the daily chart, USD/CHF keeps rallying towards 224% and 88.6% targets of AB=CD and the “Shark”. The bulls are in control of the situation, the pullbacks and successful tests of resistances should be used for buying.

CHF1.png 

On H1, USD/CHF formed AB=CD with a target at 200%. The previous resistance at 0.9645 is currently acting as support. As long as the pair didn’t fall below 0.9560, bulls have nothing to worry about.

CHF2.png 

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