Historically, the stability of the franc is caused by the solid Swiss economy and a highly developed banking system…
USD/CHF: bulls defeated an attack
2019-11-11 • Updated
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.
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%.
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CHF/JPY retraced 61.8% of its August-September decline, corrected down, formed a higher low above the 100-day MA and now seems eager to rise to the 78.6% Fibonacci level at 116.90.
The US dollar index has all chances of reaching the 2000s high of 120.00.
The Consumer Price Index announcement by Statistics Canada is set for release in a few hours will reveal the state of inflation in the Canadian economy
After bouncing off the previous Major trendline last month, Bitcoin seems to be retesting the support area again in hopes of catching a bullish momentum.