USD/CHF: franc is riding the waves

USD/CHF: franc is riding the waves

Recommendation:

BUY 0.9720, SL 0.9665, TP1 0.9860, TP2 0.9890

On the daily chart, USD/CHF has reached the targets of “Wolfe waves” pattern. Thanks to it, the pair left the medium-term bearish channel. If the pair rises to July high, there may be a correction towards the upper border of the descending trend.

CHF1.png

On H1, USD/CHF formed a “Dragon” pattern. At the moment, it’s forming the “Head of a dragon” or consolidating in the 0.9660-0.9720 area. The break of the upper border will increase the risks of a rally.

CHF2.png

chf

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