USD/CHF: Swiss Franc is strong

USD/CHF: Swiss Franc is strong

Recommendation:

SELL 0.999

SL 1.0045

TP1 0.989 TP2 0.983 TP3 0.976

On the daily chart of USD/CHF, the "Shark" pattern has been transforming to 5-0. There are risks of the pullbacks to 23.6%, 38.2%, and 50% from the CD wave. If bulls are able to keep the pair above 0.983, the pair will be able to reach targets of the AB=CD (127.2%) and "Wolfe waves" patterns.

usdchf_d.png

On H1, the pair has been reaching targets of the "Broadening wedge" pattern. Pullbacks to 23.6%, 38.2%, and 50% should be used to sell. Vice versa, a break of the resistances at 78.6% and 88.6% should be used to buy.

usdchf_60.png

Similar

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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