USD/CHF: franc wants out of the range

USD/CHF: franc wants out of the range

Recommendation:

SELL 0.9855

SL 0.9910

TP1 0.9755 TP2 0.973 TP3 0.9625

On the daily chart, USD/CHF keeps consolidating in the 0.9855-0.9995 range within the previous uptrend channel. A break of its upper border will give bulls hope for reaching the target of “Wolfe waves” pattern. On the other hand, a decline below support at 0.9855 will open the way further down.

CHF1.png 

On H1, bears are still hoping to trigger the “Broadening wedge”. For that they need a successful test of support at 0.9855. The decline to 161.8% target will become more likely in this case.

CHF2.png

Similar

USD/CAD: sellers lost the initiative

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.

Popular

EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera