USD/CHF: franc is hunting sharks

USD/CHF: franc is hunting sharks

2019-11-11 • Updated


SELL 0.9325 SL 0.938 TP1 0.9255 TP2 0.9220

BUY 0.9475 SL 0.9420 TP1 0.9610 TP2 0.9715 TP3 0.9780

On the daily chart of USD/CHF, bulls need to rise above resistance at 0.9475 and trigger the “Shark” pattern. This is a signal of their weakness. Currently, bulls and bears are fighting for 0.9380. The further face of franc depends on the result of this battle.


On H1, the decline of USD/CHF below support at 0.9340 and 0.9325 allows triggering the “Shark” pattern and AB=CD. Their 88.6% and 200% targets correspond to 0.9255 and 0.9220.



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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