USD/CHF: bears prepare to attack

USD/CHF: bears prepare to attack

2019-11-11 • Updated

Recommendation:

BUY 0.9740 SL 0.9685 TP1 0.9840 TP2 0.9890

On the daily chart, USD/CHF reached the target of “Wolfe waves” pattern. After this, there was a correction to the short-term uptrend. A recoil from the lower border of the bullish trend channel and the pair’s settling above 0.9650 will return the initiative to buyers.

CHF.png

On H1, there are senior and junior “Shark” patterns. The most likely scenarios are: decline to the recent low and continuation of the fall towards 0.9470 or correction to the wave CD. Think about bullish positions if USD/CHF breaks above 0.9740 and 0.9755.

CHF2.png

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