Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
USD/CHF: franc wants more
2019-11-11 • Updated
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.
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.
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