USD/CHF: the franc has paused

USD/CHF: the franc has paused

Recommendations:

BUY 1.0055 SL 1.00 TP 1.0145 TP2 1.0245 TP3 1.0345

SELL 0.996 SL 1.0015 TP1 0.987 TP2 0.977 TP3 0.972

On the daily chart of USD/CHF, there is a consolidation in the range of 0.996-1.0055 within the uptrend. A break of its upper boundary will let the pair move upward to 113% target of the “Shark” pattern. Alternatively, a break of the consolidation’s bottom line will increase risks of the correction to 78.6% and 61.8% from the XC wave.

usdchf_d.png

On H1, if the “Bat” pattern is implemented, bears will be able to pull the pair to 0.996.

usdchf_60.png

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