USD/CHF: franc stumbled across doji-bar

USD/CHF: franc stumbled across doji-bar

2019-11-11 • Updated

On the USD/CHF daily chart, the formation of doji-bar with the long upper shadow tells us about the Bulls’ weakness. Bears are ready to restore the downward trend towards target 224%, 127.2% in the AB=CD and Crab patterns. But before this, they need to test the support at 0.9636 (88.6% from the XA wave).

CHF1.png

On the USD/CHF hourly chart the inability of Bulls to push quotes beyond the borders of the downward trading channel and return of quotes to the borders of the upward trading channel will tell us about their weakness.

CHF2.png

 

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