USD/CHF: the CHF has reached the Rubicon

USD/CHF: the CHF has reached the Rubicon

Recommendation:

SELL 0.993

SL 0.9985

TP1 0.983 TP2 0.978 TP3 0.972

On the daily chart of USD/CHF, bears and bulls fight for the important level at  0.9995 (the upper boundary of the consolidation within the “Spike and ledge” pattern). If bulls succeed, the pair will have more chances to reach the target of the “Wolfe waves” pattern. Vice versa, if bulls don’t manage to hold the pair within the upward channel, it will signal their weakness.

usdchf_d.png

On H1, if the pair manages to break the support at 0.993, the “Crab” pattern will be implemented and odds of the “Broadening wedge” pattern’s implementation will increase.

usdchf_60.png

Similar

GBP/CAD is insatiable

GBP/CAD has broken above the ascending triangle, which is now providing support in the 1.7100/1.7060 area.

EUR/CAD is ready for a move

EUR/CAD has formed a couple of higher lows since October. The pair has managed to overcome the 50- and the 100-day MAs at 1.4588 and 1.4640 respectively.

Latest news

GBP/CAD is insatiable

GBP/CAD has broken above the ascending triangle, which is now providing support in the 1.7100/1.7060 area.

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