USD/CHF: bulls counterattack

USD/CHF: bulls counterattack

Recommendation:

BUY 0.9915

SL 0.986

TP 1.0015 TP2 1.0045 TP3 1.026

On the daily chart, USD/CHF bears failed to form a “Triangle” pattern and return the pair inside the long-term downtrend. If bulls manage to move the pair towards resistance at 0.9915 and conquer it, the risks of reaching 161.8% of the AB=CD pattern will increase.

CHF1.png 

On H1, the return of USD/CHF to the previous consolidation range of 0.9840-0.9915 and formation of the patterns “Crab” and “Shakeout-Fakeout” means that bulls have the initiative.

CHF2.png

chf

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