USD/CHF: a pin bar scared sellers

USD/CHF: a pin bar scared sellers

Recommendation:

SELL 0.9685

SL 0.9740

TP1 0.9585 TP2 0.9525 TP3 0.9380

On the daily chart, USD/CHF broke below the lower border of the uptrend channel and the triangle with the following triggering of the “Bat”. This launched the attack of bears. Bulls managed to stop it thanks to a pin bar and the upper trade channel. The decline will continue only if USD/CHF gets below September low.

USDCHF Daily.png 

On H1, only if USD/CHF returns to the middle of the previous consolidation range, bulls will be able to break the downtrend. In this case, they will trigger “Shakeout-Fakeout” pattern.

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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