USD/CHF: franc is consolidating

USD/CHF: franc is consolidating

Recommendation:

BUY 0.9995 SL 0.994 TP1 1.0095 TP2 1.0195 TP3 1.04

SELL 0.978 SL 0.9835 TP1 0.968 TP2 0.962 TP3 0.9515

On H1 of USD/CHF, bears are testing the lower border of the uptrend channel. Success will increase the odds of triggering the “Bat” pattern with a target at 88.6%. On the other hand, a failure with the following break of resistance at 0.9995 will return bulls hope for reaching targets of “Wolfe waves” and AB=CD.

CHF1.png 

On H1, USD/CHF reached the interim 78.6% target of the “Bat” pattern. Bulls are getting ready to test resistance at 0.9920-0.9925 once again.

CHF2.png

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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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