USD/CHF: bulls defeated an attack

USD/CHF: bulls defeated an attack

Recommendation:

BUY 0.9890

SL 0.9835

TP1 0.9990 TP2 1.0145 TP3 1.0300

On the daily chart, USD/CHF bulls managed to hold an important support at 0.9775-0.9800. To resume the uptrend, buyers need a successful test of resistance at 0.9880-0.9890 and at 0.9940. In this case, the odds of the pair’s going to 200% target of AB=CD will increase.

CHF1.png 

On H1, a break of the upper border of the uptrend channel and resistance at 0.9880 (earlier it acted as support) will create grounds for a “Shark” pattern with the target at 88.6%.

CHF2.png

 

chf

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