USD/CHF: franc saw a “bat”

USD/CHF: franc saw a “bat”

Recommendation:

BUY 0.9665 SL 0.961 TP1 0.973 TP2 0.9775 TP3 0.98

BUY 0.949 SL 0.9435 TP1 0.9555 TP2 0.964 TP3 0.973

On the daily chart, USD/CHF keeps forming the “Bat” pattern with a target of 88.6%. For now, bulls and bears are fighting for 78.6% of the wave XA. If bears manage to conquer it, the decline will continue. On the other hand, rebound from the current support will increase the possibility of a pullback.

CHF1.png 

On H1, USD/CHF there may be a formation of a “Widening wedge”. To do that bulls will need to return the pair to resistance at 0.9665.

CHF2.png

chf

Similar

USD/MXN can offer more

USD/MXN has found itself within a rather steep downtrend. The pair has topped at 19.6550 at the end of November and during the last several days dropped below the 100-, 50- and 200-day MAs.

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