USD/CHF Forecast: franc approached a milestone

chf_forexRecommendation:

BUY 0.9855

SL 0.98

TP1 0.9955 TP2 1.0005 TP3 1.0145

On the daily chart, a break of support at 0.9880-0.9890 will allow bears to develop correction to the lower border of an uptrend channel. On the other hand, a pullback can create grounds for an advance towards 200% target of AB=CD.

CHF1.png

On H1, USD/CHF is transforming the inverted “Shark” pattern into 5-0. Usually, a pullback of the pair from 38.2%, 50% and 61.8% of the wave CD is used for opening long positions.

CHF2.png

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