USD/CHF: franc is falling down

USD/CHF: franc is falling down

Recommendation:

SELL 0.9600

SL 0.9655

TP1 0.9500

TP2 0.9390 

On the daily chart, bears are trying to resume the downtrend. If they manage to get below June low, the possibility of the decline to 127.2% and 224% targets of “Crab” and AB=CD patterns will significantly increase.  

usdchf.png

On H1, USD/CHF formed “Three Indians” pattern. Bears are currently trying to pull the pair outside of 0.9600-0.9690 consolidation range within “Spike and ledge” pattern. Success in this will slow seller to continue the decline.

usdchf2.png

chf

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