USD/CHF: franc wants more

USD/CHF: franc wants more

2019-11-11 • Updated


SELL 0.9805

SL 0.986

TP1 0.9730 TP2 0.9630 TP3 0.9530

On the daily chart of USD/CHF, a break of the lower levels of a triangle and the uptrend channel allowed bulls to seize the initiative and form a “Spike and ledge”. Sellers aim to return the pair to the downtrend channel.

USDCHF daily.png  

On H1, USD/CHF keeps forming a “Crab” with the target at 161.8%. As the pair is near the convergence area, the possibility of a pullback is high. As a result, it’s recommended to use pullbacks from the resistance levels for selling the pair.

USDCHF h1.png


US Dollar: A Dump or a Correction?
US Dollar: A Dump or a Correction?

After completing a substantial 4-week bullish rally, the US Dollar closed last week with a big bearish candle, which has led to a 2.63% decline in US Dollar prices. The million-Dollar question on traders' and investors' minds: is this the start of a US Dollar dump or just a correction?

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