USD/CHF Forecast: bulls made another attack

chf_forexRecommendation:

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

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