AUD/NZD: is it time for a correction?
AUD/NZD experienced an impressive rally since the end of March.
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.
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.
Ivan Karamazov
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