USD/CHF: bulls made another attack

Read the article on FBS website

Recommendation:

BUY 1.0005

SL 0.995

TP1 1.0105 TP2 1.0145

On the daily chart, USD/CHF after forming the “Dragon” pattern and reaching 200% target of AB=CD there was a natural pullback towards 0.9965 (61.8% of the descending wave). Never the less, bulls didn’t have enough resolve to repeat the test of an important level. In case of success, the road up to 1.0145 will be open.

CHF1.png 

On H1, there’s a “Spike and ledge” pattern. A break of resistance at 1.0005 (upper border of the “Ledge” or rebound from support at 0.9940 (lower border) will increase the risks of an uptrend’s resumption.

CHF2.png

Share with friends:

Similar

Latest news

Instant opening

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.