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 - 0.9950

  • USD/CHF reached buy target 0.9800
  • Next buy target - 0.9950

USD/CHF recently reached the resistance level 0.9800 – which was set as the buy target in our previous forecast for this currency pair. The price has been rising steadily from the start of this month – inside the intermediate corrective wave (2), which started when USD/CHF reversed up from the support zone lying between the 100-day moving average, the support level 0.9500, lower daily Bollinger Band and the 38.2% Fibonacci Correction of the previous sharp primary wave ② from January.

USD/CHF is likely to rise further toward the next buy target 0.9950 (calculated price for the termination of the active intermediate correction (2)).

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