USD/CHF can go down

USD/CHF can go down

Recommendation:

SELL 0.9580

SL 0.9635

TP1 0.9480 TP2 0.9375 TP3 0.9285

On the daily chart, bulls formed a pinbar and counterattacked. USD/CHF reached 0.9630 (50% of the medium-term rising wave), although the diagonal resistance in form of the upper border of the downtrend channel is a more serious obstacle.

USDCHF daily.png 

On H1, USD/CHF is forming the final stage of the “Broadening wedge” pattern. The inability of bulls to push the pair above resistance at 78.6% and 88.6% of the wave 4-5 will point at their weakness.

USDCHF h1.png

Similar

GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

Latest news

GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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