USD/CHF: bears practice deceit

USD/CHF: bears practice deceit

Recommendation:

BUY 0.9985

SL 0.993

TP1 1.0085 TP2 1.0145

On the daily chart, USD/CHF is getting outside of the trade channel. This increases the odds of correction. If bears manage to pull the pair below support at 0.9890 and fix below it, chances of continuation of the pullback to 0.9775-0.9800 will increase.

CHF1.png 

On H1, return to the middle of the previous consolidation range of 0.9940-1.0035 will trigger “Shakeout-Fakeout” and be a signal for opening longs. There we also find the lower border of an uptrend channel.

CHF2.png

 

chf

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