USD/CHF: bulls got too excited

USD/CHF: bulls got too excited

On the USD/CHF daily chart, the realization of the Wolf Waves pattern continues An update of the April high will allow the bulls to count on the continuation of the rally and the implementation of the 1.0203 target. If they succeed, the chances for the implementation of the 88.6% target in the Shark reversal pattern will increase significantly. The nearest support can be found near 1.004.

On the USD/CHF hourly chart, buyers are trying to test an important level of 1.0095. Its breakout followed by the successful test of the resistance at 1.013 can lead to the restoration of the bullish trend.

Recommendation: hold long positions (BUY 1,0035 SL 0,9980 TP1 1,013 TP2 1,0205)



USD/TRY has moved sharply down this week falling to the support line since the end of November.

Trade ideas for gold

The downside correction is long due in XAU/USD. Gold is stuck ahead of resistance at 1298.50.

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