Negative forecast for USD/CHF

Negative forecast for USD/CHF

Recommendation:

SELL 0.9640

SL 0.9695

TP1 0.9540 TP2 0.9445 TP3 0.9380

On the daily chart, bears managed to stop USD/CHF at 0.9735 (38.2% of the medium-term rising wave) and return the pair inside the long-term downtrend. They will keep controlling the market if the pair slide below the support at 0.9630 and push it to 88.6% of the “Double top”.

USDCHF daily.png 

On H1, if USD/CHF renews September low, it will trigger AB=CD pattern for the second time. Its target at 261.8% lies at 0.9445.

USDCHF h1.png

Similar

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

USD/CAD may be capable of more

USD/CAD firstly formed a bullish “engulfing” candlestick on the W1 and then confirmed the upside by the following strong bullish candlestick.

Latest news

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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