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USD/CHF: preparing for a rally

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Recommendation:

BUY 0.9720

SL 0.9665

TP1 0.9890, TP2 1.0025 

On the daily chart, USD/CHF keeps trading within the “Wolfe waves” pattern. Bulls managed to keep the pair above support at 0.9650. If the pair rises above July high, it will continue going up towards 1.0025-1.0030. Here there’s target of the reversed “Shark” pattern.

CHF.png

On H1, the pair finishes forming the “Dragon” pattern. The pair’s currently testing the head of the dragon located at the level of the dragon’s curling tail. USD/CHF is consolidating in the 0.9635-0.9720. The break above the upper border will strengthen the odds of a further rally.

CHF2.png

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