USD/CHF: franc wants more
Read the article on FBS website
Recommendation:
SELL 0.9805
SL 0.986
TP1 0.9730 TP2 0.9630 TP3 0.9530
On the daily chart of USD/CHF, a break of the lower levels of a triangle and the uptrend channel allowed bulls to seize the initiative and form a “Spike and ledge”. Sellers aim to return the pair to the downtrend channel.
On H1, USD/CHF keeps forming a “Crab” with the target at 161.8%. As the pair is near the convergence area, the possibility of a pullback is high. As a result, it’s recommended to use pullbacks from the resistance levels for selling the pair.
