USD/ZAR met resistance
USD/ZAR recoiled down from the resistance line connecting October highs and slipped under the daily moving averages.
USD/CHF: franc got to the top
Recommendation:
BUY 1.0035 SL 0.998 TP1 1.0145 TP2 1.0235
SELL 0.994 SL 0.9995 TP1 0.9875 TP2 0.984
On the daily chart, USD/CHF consolidated after reaching 224% target of AB=CD. A triangle was formed. A break of its upper border will allow bulls to continue rally towards 1.0145 and 1.0235.
On H1, USD/CHF keeps forming a ledge within “Spike and ledge” pattern. A successful test of resistance at 1.0035 will open the way up to bulls. On the other hand, decline below support at 0.9940 will let bears develop correction.
Ivan Karamazov
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