Dmitriy Chernovolov, Technical Analyst who has been actively following the FX markets for the last 11 years. He uses a systematic trend following approach combined with a proven money management system. Dima prefers to combine multiple technical analysis tools (e.g. Fibonacci retracements, trendlines, indicator divergences, Japanese candlesticks, Elliott Waves as well as horizontal support and resistance levels on different time-frame charts) to identify high probability synergetic trade setups with a high reward/risk ratio.

USD/CHF: buy target - 0.9800

  • USD/CHF reversed from combined support zone
  • Next buy target - 0.9800

USD/CHF recently reversed up sharply from the combined support zone lying between multiple support levels:0.9550, 0.9460, 100-day simple moving average, 38.2% Fibonacci Correction of the previous primary ABC correction ② from the middle of January and the lower daily Bollinger Band. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern – Hammer – thereby completing the previous sharp intermediate downward impulse (1).


USD/CHF is expected to correct further up inside the active intermediate corrective wave (2) toward the next buy target at the resistance level 0.9800. Buy stop-loss can be placed below the support level 0.9550.

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