USD/CHF: bears are heading to the south

USD/CHF: bears are heading to the south

2019-11-11 • Updated

On the USD/CHFdaily chart, there is an implementation of 5-0, "Shark" and AB = CD patterns. Their 88.6% and 161.8% targets allow us to identify the convergence zone (0.9615-0.9665). In this area, the probability of a trend reversal is high. To remain control over the "bears", it is necessary to keep quotes below the 0.9855 level.


On the USD/CHF hourly chart, the expanding wedge reversal pattern has been realized. After the breakouts of the supports at 0.9927 and 0.9896, the market is under the bears' control now. In such circumstances, the best strategy would be selling on the rise of quotes towards resistances at 0.995 and 0.999.

Recommendation: SELL 0,995 SL 1,0005 TP1 0,982 TP2 0,9665. 


Worst Awaits Risk Assets in September
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The Crypto market usually also has a rough time in September. Bitcoin lost 12.7% in September 2021, 17.4% in 2020, 17.5% in 2018, 21.4% in 2017 and 45.4% in 2015. The main cryptocurrency increased by 13.3% and 3.95% in 2016 and 2019, respectively.

Gurus  Bet on Deeper Correction
Gurus Bet on Deeper Correction

Warren Buffett, the American businessman and philanthropist, has put most of Berkshire Hathaway’s cash in short-term United States Treasury bills since they offer as much as 3.43% in yields. 

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