USD/CHF: the franc is weak

USD/CHF: the franc is weak

Recommendation:

BUY 0.996 SL 0.9905 TP1 1.006 TP2 1.018 TP3 1.04, BUY 1.0005 SL 0.995 TP1 1.0105 TP2 1.018 TP3 1.04

 On the daily chart of USD/CHF, there is a transformation of the “Shark” pattern into 5-0. The rebound from the supports at the 23.6%, 38.2% and 50% levels from the CD wave is usually used to open long positions towards the 161.8% target of the AB=CD pattern.

1.png

On H1, bulls managed to reach the targets of the “Wolfe Waves” pattern. If the diagonal resistance between the 2 and 4 marks is broken, the “Broadening Wedge” pattern may be implemented. In that case, the pair can move further up.

2.png

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