The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession.
Negative forecast for USD/CHF
2019-11-11 • Updated
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”.
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.
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