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.
USD/CHF: bulls don't give up
2019-11-11 • Updated
BUY 0.9965 SL 0.991 TP1 1.0065 TP2 1.018 TP3 1.04
On the daily chart of USD/CHF, the transformation of the "Shark" pattern into the 5-0 one continues. The reversals to 23.6%, 38.2% and 50% from the CD wave are usually used to open long positions towards the targets of the "Wolfe Waves" and AB=CD patterns.
On H1, if the pair manages to move back to the resistance at 0.9965 (the upper border of the downward channel) and test it, the "Wolfe Waves" and "Broadening Wedge" patterns may be implemented.
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