USD/CHF: bulls are stubborn

USD/CHF: bulls are stubborn

Recommendation:

BUY 0.965

SL 0.9495

TP1 0.9745 TP2 0.9785

On the daily chart, bulls are still hoping to form a “Dragon” pattern. The first step will be the pair’s exit out of the short-term consolidation range between 0.9575 and 0.9650. The second step will be a successful attack on diagonal resistance. Only if these 2 conditions are met, USD/CHF will get a chance to rise to 0.9785 and higher.

CHF.png 

On H1, USD/CHF is forming the “Dragon’s head”. To complete it, it needs to overcome resistance at 0.9650. In this case, the activation of AB=CD with the target at 161.8% will become more likely.

CHF2.png

chf

Similar

EUR/GBP: let's buy the euro

On the daily chart of EUR/GBP, after implementation of the "Wolfe Waves" and "Shark" (88.6%) patterns, there is a correction as a part of the "Shark" pattern's transformation into 5-0.

Gold faces some pressure

Gold is correcting down after its previous advance. The metal is now trading below October high at 1243.35.

Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.

gbp

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera