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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 target - 1.0300

By: Dmitriy Chernovolov

  • USD/CHF reached buy target 1.0200
  • Next buy target - 1.0300

USD/CHF continues to rise – after the pair earlier broke above the pivotal resistance level 1.0200, which has been reversing the price in the last few days and which was set as the buy target in our previous forecast for this pair. The breakout of this resistance level is likely to strengthen the bullish pressure on this currency pair in the coming trading sessions.

USD/CHF is expected to rise further in the active impulse minor waves (iii) and 3 (which belong to the strong intermediate impulse wave (3) from the start of May) toward the next buy target at the next resistance level 1.0300. Buy stop-loss can be placed at the distance of half the daily ATR (Average True Range) below the support level 1.0200.

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