Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
USD/CHF: bulls try to restore uptrend
2019-11-11 • Updated
Recommendations: BUY 0,978 SL 0,9725 TP 0,995.
On the USD/CHF daily chart, the first attempt of Bulls to test the resistance at 0.9785 and activate the Double bottom reversal pattern has failed. Nevertheless, they still rekindle dream of a correction towards 0.985 and 0.995.
On the USD/CHF hourly chart, the expanding wedge reversal pattern was formed. Rollbacks towards 50% and 61.8% levels of the 4-5 wave can be used for opening long positions. In the short-term, we expect an uptrend recovery.
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