USD/CHF: bulls called Wolfe for help

USD/CHF: bulls called Wolfe for help

2019-11-11 • Updated

Recommendation:

BUY 0.9585

SL 0.953

TP1 0.971 TP2 0.974

On the daily chart, USD/CHF formed a double bottom. The bar with the long lower wick strengthens the odds of the “Dragon” pattern. However, at the beginning bulls need to conquer resistance at 0.9650 (23.6% of the last long-term descending wave) and at 0.9765.

CHF1.png  

On H1, USD/CHF reached the targets of the “Widening wedge” pattern. The pair’s currently forming “Wolfe waves” pattern. A break of resistance at 0.9585 will be a signal for opening long positions.

CHF2.png

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