USD/CHF: the franc is supported

USD/CHF: the franc is supported

2019-11-11 • Updated

Recommendation:

SELL 0.9805 SL 0.986 TP1 0.9705 TP2 0.966 TP3 0.96

On the daily chart of USD/CHF, the return of the pair towards the resistance near the parity level (1.00), will push the pair towards the targets of the 5-0, "Wolfe Waves" and AB=CD patterns. The targets of the last ones comply with the 1.018 and 1.04 levels. Otherwise, if the pair moves below the 50% level of the "Shark" pattern's CD wave, the risks of the further fall will increase. 

usdchf_d.png

On H1, bears plan to implement the "Three Indians" and "Broadening Wedge" patterns. If the December's minimum is updated, the pair will rise. 

usdchf_60.png

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