USD/CHF: bulls are grasping at straw

USD/CHF: bulls are grasping at straw

Recommendations:

SELL 0,962 SL 0,9675 TP1 0,952 TP2 0,9535,

BUY 0,9665 SL 0,961 TP1 0,9745 TP2 0,978. 

On the USD/CHF daily chart, there is an acceleration of the downtrend. If the Bears manage to keep the quotes below the support at 0.9635 ($88.6 from the last ascending near-term wave), the risks for the continuation of the rally towards 0.9435 will increase.

On the USD/CHF hourly chart, activation of the inverted Crab pattern in the case of the breakout of the resistance at 0.9665 might lead to the implementation of the Wolfe Wave pattern. In contrast, a break of the support at 0.962 will send quotes lower.

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