USD/CHF: wave saved franc from the shark

USD/CHF: wave saved franc from the shark

Recommendation:

BUY 0.9850

SL 0.9795

TP1 0.993 TP2 0.9975

On the daily chart, USD/CHF bulls managed to keep the pair above important convergence area of 0.9775-0.9800 and counterattacked. A successful test of resistance at 0.9880-0.9890 and 0.9940 will increase the risks of continuation up to 200% target of AB=CD.

CHF1.png 

On H1, USD/CHF reached the targets of “Wolfe waves” pattern. A break of the upper border of the descending trend channel with the following retest create grounds for reaching 88.6% and 113% targets of the “Shark”.

CHF2.png

chf

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On H1 of EUR/USD, bulls want to trigger “Wolfe waves” pattern with a target at the line 1-4. At the same time, if the pair doesn’t leave the downtrend channel, their plans will fail.  

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Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines

jpy

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