USD/CHF: bulls need to arm themselves with patience

USD/CHF: bulls need to arm themselves with patience

2019-11-11 • Updated

Recommendation: BUY 1,0085 SL 1,003 TP 1,02.

On the USD/CHF daily chart, the bulls failed to consolidate above the upper border of the downward trading channel. This tells us about their weakness. To restore the long-term uptrend, the upper border of the triangle near the 1.0085. mark should be broken. Then, the bulls will be able to hit a target in the "Wolf Wave" pattern.

On the USD/CHF hourly chart, there can be a rebound from current levels (61.8% of the last downward wave + historical support). But for this to happen the bulls should arm themselves with patience. 

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