The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
USD/CHF: franc is showing signs of live
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.
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.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...