USD/CHF: the franc is trying to recover
Read the article on FBS website
Recommendation:
SELL 0.99
SL 0.9955
TP1 0.9795 TP2 0.9745 TP3 0.9695
On the daily chart of USD/CHF, the fast attack let bulls implement the 88.6% target of the “Shark” pattern. It increases risks of the pullback to 23.6%, 38.2% and 50% of the CD wave within the transformation of the “Shark” pattern into the 5-0 pattern.
On H1, the “Broadening wedge” pattern keeps forming. A break of the support at 0.99 will let bears reach the 5 point. After that, we can anticipate either a straight downward movement or the downward movement after a small correction.
