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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 targets - 0.9850 and 1.0080

By: Dmitriy Chernovolov

  • USD/CHF rises inside C-wave
  • Next buy targets - 0.9850 and 1.0080

USD/CHF continues to rise inside the C-wave of the intermediate ABC correction (2) from the start of May. This C-wave earlier broke the strong resistance level 0.9500 (which reversed the previous A-wave of this ABC correction) – intersecting with the 200-day simple moving average – which intensified the bullish pressure on this currency pair.

USD/CHF is likely to rise further inside the active C-wave toward the next buy target at the nearby resistance level 0.9850 (top of the minor correction 2) – the breakout of which can lead to further gains toward 1.0080 (top of wave ② from March.

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