Historically, the stability of the franc is caused by the solid Swiss economy and a highly developed banking system…
USD/CHF: a pin bar scared sellers
2019-11-11 • Updated
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.
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.
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