USD/CHF: bullish potential

USD/CHF: bullish potential

2019-11-11 • Updated

On the daily USD/CHF chart, there's a realization of the Wolfe waves pattern. Its first target is at the intersection of the projection from the point 5 and the wave 1-4. In order to make it bulls have to overcome resistance at 1.0040. Then the pair should resume rally towards 88.6% target of the inverted Shark pattern. 

On H1, USD/CHF is moving inside the ascending channel. The bulls retain control for the pair. The break of resistance at 1.0034 will increase the risks of growth towards 1.013 (88.6% of the last descending wave) and higher.

Recommendation: BUY 1,0035 SL 0,9980 TP1 1,013 TP2 1,0205. 

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