
Historically, the stability of the franc is caused by the solid Swiss economy and a highly developed banking system…
2019-11-11 • Updated
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.
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%.
Historically, the stability of the franc is caused by the solid Swiss economy and a highly developed banking system…
Asian shares scaled a record high on Friday on growing prospects of a large U.S. economic stimulus package, while hopes that coronavirus vaccine rollouts will boost the global economy underpinned investor sentiment.
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.
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Last week blew traders' minds! The US dollar dropped for the first time in seven weeks after Jerome Powell's speech on Tuesday…
The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession.
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