XAU/USD has reached resistance
XAU/USD reached resistance of the uptrend channel in the area of 1347.
USD/CHF: bulls want revenge
Recommendation:
BUY 0.964
SL 0.9585
TP1 0.9765 TP2 0.986
On the daily chart, a double bottom allows the bulls to retain hopes of finishing a “Dragon” pattern. To do it they have to return the quotes to resistance levels at 0.9650 and 0.9765 and conquer them.
On H1, a successful test of resistance at 0.9640 (upper border of the downtrend channel) will increase the risks of an inverted butterfly pattern. Its 127.2% target corresponds to 0.9860.
Ivan Karamazov
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