During the Asian session on Wednesday, the USD/CAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to...
USD/CHF: franc is hunting a crab
2019-11-11 • Updated
Recommendation: SELL 0.9895 SL 0.995 TP1 0.9825 TP2 0.9785
On the daily chart, USD/CHF keeps consolidating in the 0.9780-0.9995 range within the “Spike and ledge” pattern on the basis of 1-2-3. A break of its upper border will increase the odds of its getting to the 1.0195 target of “Wolfe waves” pattern. The formation of several inside bars points at uncertainty.
On H1, USD/CHF formed a triangle. A break of its lower border will allow bears to count on triggering on the “Crab” pattern with target at 161.8%. To continue the advance, bulls need to push the pair above resistance at 0.9990.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...