Swiss Franc is About To Reverse
Historically, the stability of the franc is caused by the solid Swiss economy and a highly developed banking system…
USD/CHF has little space in the corridor
2019-11-11 • Updated
Recommendations:
BUY 0.9395 SL 0.934 TP1 0.948 TP2 0.96
SELL 0.929 SL 0.9345 TP1 0.919 TP2 0.905
On the daily chart, USD/CHF reached the interim target at 113% of the “Crab” pattern: bulls are trying to counterattack. To develop correction, they need to overcome resistance at 0.9410 and 0.9485-0.9505.
On H1, a break of the upper border of the 0.929-0.9395 consolidation range will increase the odds of its getting to 88.6% of the inverted “Shark” pattern. On the other hand, a decline below the support at 0.9290 will lead to the resumption of the downtrend.
Similar
The big stategic picture remains bullish for euro against all currencies
Asian shares scaled a record high on Friday on growing prospects of a large U.S. economic stimulus package, while hopes that coronavirus vaccine rollouts will boost the global economy underpinned investor sentiment.
How about CHF/JPY?
CHF/JPY retraced 61.8% of its August-September decline, corrected down, formed a higher low above the 100-day MA and now seems eager to rise to the 78.6% Fibonacci level at 116.90.
Latest news
Last chance for bulls to exit the market. FBS explains the next two years for crypto
Crash of LUNA ecosystem and halving cycles. Glimpse into the future of the crypto market with FBS experts!
What To Trade On May 23 - 27?
Last week blew traders' minds! The US dollar dropped for the first time in seven weeks after Jerome Powell's speech on Tuesday…
Can a recession be avoided?
The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession.
