USD/CHF: franc is showing signs of live

USD/CHF: franc is showing signs of live

Recommendation:

BUY 0.9965

SL 0.991

TP1 1.0065 TP2 1.0145

On the daily chart, USD/CHF is correcting to the long-term bullish trend. To break the trend, the pair has to get out of the uptrend channel and form a “Spike and reversal with acceleration”. On the other hand, advance above resistance at 0.9960 will increase the risks of going to 113% target of the “Shark” pattern.

CHF1.png 

On H1 of USD/CHF, the inability of bears to overcome convergence area near 0.9905 (161.8% targets of “Crab” and AB=CD) will be the first signal that the uptrend is resuming.

CHF2.png

chf

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