USD/CHF: bulls broke free

USD/CHF: bulls broke free

2019-11-11 • Updated

Recommendation:

BUY 0.9880

SL 0.9825

TP1 0.998 TP2 1.004

On the daily chart, USD/CHF completely formed the “Dragon” pattern. After it renewed the “Dragon's head” and quitted the descending trade channel, we are certain that bulls have the initiative. They unfolded the long-term trend and are ready to continue the rally at least until 224% target of AB=CD.

CHF1.png  

On H1, USD/CHF is forming «Spike and reversal with acceleration”. As long as it’s staying above 0.9770-0.9800, bulls will remain control.

CHF2.png

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