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.
USD/CHF: should you buy or sell?
2019-11-11 • Updated
BUY 0.9975 SL 0.992 TP1 1.0075 TP2 1.0130 TP3 1.0175
SELL 0.985 SL 0.9905 TP1 0.976 TP2 0.9735 TP3 0.963
On the daily chart of USD/CHF, the pair has been reaching targets of the reversed “Shark” pattern with the 113% target. To keep rising, the pair needs to break the resistance at 0.998. Vice versa, a break of the support at 0.985 will increase risks of the pullback to the current rally.
On H1, the pair reached both targets of the “Wolfe waves” pattern. Up to now, there is a consolidation within 0.994-0.9975. An entry from it will determine the further direction of the pair.
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