What happened? It looks like the decline in EUR/CHF to 1…
USD/CHF broke support area
2019-11-11 • Updated
- USD/CHF broke support area
- Next sell target - 0.9710
USD/CHF today broke through the support area lying at the intersection of the support level 0.9840 (which reversed the previous intermediate impulse wave (1) with the daily Hammer, as can be seen below) and 61.8% Fibonacci correction of the previous primary ABC correction ② from the start of September. The breakout of this this support area should accelerate the active impulse wave (3). USD/CHF is expected to fall toward the next sell target at the next support level 0.9710.
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For those who may be unfamiliar with Price Action trading, the horizontal arrows represent areas where the market structure was broken. As you can see in the scenario above, price broke below the previous low at the two marked instances
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