USD/CHF: Swiss Franc is strong
Read the article on FBS website
Recommendation:
SELL 0.999
SL 1.0045
TP1 0.989 TP2 0.983 TP3 0.976
On the daily chart of USD/CHF, the "Shark" pattern has been transforming to 5-0. There are risks of the pullbacks to 23.6%, 38.2%, and 50% from the CD wave. If bulls are able to keep the pair above 0.983, the pair will be able to reach targets of the AB=CD (127.2%) and "Wolfe waves" patterns.
On H1, the pair has been reaching targets of the "Broadening wedge" pattern. Pullbacks to 23.6%, 38.2%, and 50% should be used to sell. Vice versa, a break of the resistances at 78.6% and 88.6% should be used to buy.
