USD/CHF: franc is resuming a trend

USD/CHF: franc is resuming a trend

Recommendation:

SELL 0.9825 SL 0.988 TP1 0.9725 TP2 0.962 TP3 0.9515

BUY 0.9915 SL 0.986 TP1 1.0015 TP2 1.0055 TP3 1.0115

On the daily chart, USD/CHF is forming a “Spike and reversal with acceleration”. Bears managed to keep the pair below the trendline of the initial stage. This means that they are serious. If the pair returns inside the downtrend channel, this will increase the risks of the long-term bearish trend.

CHF1.png 

On H1 of USD/CHF, the advance of the pair to the resistance at 0.9913 with the following increase above it, will trigger the reversal “Broadening wedge” pattern.

CHF2.png

chf

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How to trade EUR/GBP?

The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.

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