USD/CHF: franc is waiting for a signal

USD/CHF: franc is waiting for a signal

Recommendations:

BUY 0.9965 SL 0.991 TP1 1.0065 TP2 1.0165 TP3 1.0195

SELL 0.9855 SL 0.991 TP1 0.9755 TP2 0.9725 TP3 0.9625

On the daily chart, USD/CHF keeps consolidating in the 0.9855-0.9995 range in line with the “Spike and ledge” pattern. A break of its upper border will increase the odds of getting to the target of the “Wolfe waves” pattern. On the other hand, a test of support at 0.9855 will open the way down.

CHF1.png 

On H1 of USD/CHF, there’s potential for formation of the “Widening wedge”. For that, bears need to pull the pair below 0.9855.

CHF2.png

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On the daily chart, bears tried to form “Three Indians”, 1-2-3 and “Bat” with 88.6% target but failed to bring USD/CAD to an important support at 1.2925.

AUD/USD fell from the ledge

Bears managed to pull AUD/USD below the lower consolidation range of 0.732-0.7470 (a ledge) within the “Spike and ledge” pattern.

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