USD/CHF: bulls are destroying obstacles

USD/CHF: bulls are destroying obstacles

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.

CHF1.png  

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.

CHF2.png

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