USD/CHF: bulls are counterattacking

USD/CHF: bulls are counterattacking

2019-11-11 • Updated

Recommendation:

BUY 0.9915

SL 0.986

TP1 1.0015 TP2 1.0055 TP3 1.0195

On the daily chart, USD/CHF keeps forming “Wolfe waves” pattern. The inability of bears to return the pair inside the long-term descending channel pointed at their weakness. To continue the rally towards 1.0195 and higher, the pair has to return inside the short-term trade channel.

CHF1.png  

On H1, USD/CHF is consolidating in the 0.9825-0.9915 area. A break of its upper border will mean the triggering of the “Broadening wedge” pattern.

CHF2.png

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