USD/CHF: preparing for a rally

USD/CHF: preparing for a rally

2019-11-11 • Updated


BUY 0.9720

SL 0.9665

TP1 0.9890, TP2 1.0025 

On the daily chart, USD/CHF keeps trading within the “Wolfe waves” pattern. Bulls managed to keep the pair above support at 0.9650. If the pair rises above July high, it will continue going up towards 1.0025-1.0030. Here there’s target of the reversed “Shark” pattern.


On H1, the pair finishes forming the “Dragon” pattern. The pair’s currently testing the head of the dragon located at the level of the dragon’s curling tail. USD/CHF is consolidating in the 0.9635-0.9720. The break above the upper border will strengthen the odds of a further rally.



How about CHF/JPY?
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.

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