Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
USD/CHF: will the pair rise?
2019-11-11 • Updated
Recommendation: BUY 1.01 SL 1.0045 TP1 1.018 TP2 1.022 TP3 1.032
On a daily chart of USD/CHF, there is a reversal as a part of a transformation of the “Shark” pattern into 5-0. The update of November’s maximum will let the bulls to reach the targets of the “Wolfe Waves” and AB=CD patterns. The potential of an upward movement is very high.
On H1, the pair stuck in a “death zone”. The bullish pressure will continue only if the resistance at 1.01 is broken. Otherwise, if the support at 0.9915 is broken as a part of the “Broadening wedge” pattern, the pair can fall further down.
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This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
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