Negative forecast for USD/CHF

Negative forecast for USD/CHF

2019-11-11 • Updated

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

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