USD/CHF: the franc dreams about the “wedge”
Read the article on FBS website
Recommendation:
SELL 0.9855
SL 0.991
TP1 0.9755 TP2 0.9725 TP3 0.9625
On the daily chart of USD/CHF, bulls failed to pull the pair out of the upper boundary of the 0.9855-0.9995 consolidation. It signals the weakness of bulls. The “Shakeout-Fakeout” pattern was formed. If it is implemented, bears will take an initiative.
On H1, there are odds of the implementation of the “Broadening wedge” pattern. To implement the pattern, bears need to break the support at 0.9855. As a result, risks of the downward movement to the 161.8% target of the “Crab” pattern will increase.
