USD/CHF can go down

USD/CHF can go down

2019-11-11 • Updated


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


US Dollar: A Dump or a Correction?
US Dollar: A Dump or a Correction?

After completing a substantial 4-week bullish rally, the US Dollar closed last week with a big bearish candle, which has led to a 2.63% decline in US Dollar prices. The million-Dollar question on traders' and investors' minds: is this the start of a US Dollar dump or just a correction?

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