The US Dollar has been remarkably sluggish for the past few weeks despite being within a distinct Demand zone. My expectation of a springing rebound off the demand zone has not exactly played out yet, however, the zone remains unbroken.
USD/CHF: bulls got a chance
2019-11-11 • Updated
TP1 0.968 TP2 0.974 TP3 0.979
On the daily chart of USD/CHF, bulls managed to push the pair out of the long-term downtrend channel and implement the “AB=CD” pattern with the 224% target. To continue the rally, the pair should break the resistance at 0.9811.
On H1, the “Spike and reversal with acceleration” pattern is implemented. The bullish trend will continue until the pair falls below the bottom boundary of the uptrend. Pullbacks to supports at 0.958 and 0.9555 may be used for long positions.
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