USD/CHF: too little space in the triangle

USD/CHF: too little space in the triangle

Recommendation:

SELL 0.9870

SL 0.9925

TP1 0.9770 TP2 0.9735 TP3 0.9630

On the daily chart, USD/CHF broke below the lower border of a triangle and the uptrend channel. Sellers became stronger. Even support at 0.9865 (23.6% of the last rising wave) couldn’t stop them. They aim to bring the pair to the upper border of the downtrend channel.

USDCHF daily.png 

On H1, USD/CHF keeps forming a “Broadening wedge”. Pullbacks to 23.6%, 38.2%, and 50% of the wave 4-5 may be used for selling.

USDCHF h1.png

Similar

How to trade EUR/GBP?

The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.

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