USD/CHF: franc got to the top

USD/CHF: franc got to the top

2019-11-11 • Updated

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.

CHF1.png  

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.

CHF2.png

Similar

How about CHF/JPY?
How about CHF/JPY?

CHF/JPY retraced 61.8% of its August-September decline, corrected down, formed a higher low above the 100-day MA and now seems eager to rise to the 78.6% Fibonacci level at 116.90.

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