Will the Fall of USD Bring Hope to the Crypto Markets?
After bouncing off the previous Major trendline last month, Bitcoin seems to be retesting the support area again in hopes of catching a bullish momentum.
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”.
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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