USD/CHF: franc approached the target

USD/CHF: franc approached the target

2019-11-11 • Updated

Recommendation: SELL 0.9525 SL 0.9580 TP1 0.9400 TP2 0.9370

On the daily chart, USD/CHF is trading within a downtrend towards 224% and 127.2% targets of AB=CD and “Crab” patterns. To activate the reversal “Wolfe waves” pattern bears have to move the pair above 0.9600.

CHF.png

On H1, USD/CHF reached targets of “three Indians” and “Spike and ledge” patterns. As a result, the pair reached 161.8% targets of AB=CD. This increases the risks of correction towards 0.9525. The short-term outlook for the franc will depend on this level.

CHF2.png

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