
Historically, the stability of the franc is caused by the solid Swiss economy and a highly developed banking system…
2019-11-11 • Updated
Recommendation:
BUY 0.9710
SL 0.9655
TP1 0.9810 TP2 0.9860 TP3 0.9945
On the daily chart, USD/CHF reached 88.6% and 261.8% targets of the “Shark” and AB=CD. This increases the risks of a correction. To continue the way up, the pair needs to overcome resistance at 0.986 and 0.9945.
On H1, USD/CHF keeps forming “Spike and reversal with acceleration”. As long as the pair is above the trendline of the initial stage (0.96-0.9625), bulls will be in control of the market. Pullbacks of support at 0.9750 and 0.9710 may be used for buying.
Historically, the stability of the franc is caused by the solid Swiss economy and a highly developed banking system…
Asian shares scaled a record high on Friday on growing prospects of a large U.S. economic stimulus package, while hopes that coronavirus vaccine rollouts will boost the global economy underpinned investor sentiment.
CHF/JPY retraced 61.8% of its August-September decline, corrected down, formed a higher low above the 100-day MA and now seems eager to rise to the 78.6% Fibonacci level at 116.90.
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