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 – 0.9900

By: Dmitriy Chernovolov

  • USD/CHF approached buy target 0.9800
  • Next buy target – 0.9900

USD/CHF has been rising in the last few trading sessions – in line with our previous forecast for this currency pair. The active minor impulse waves (i) and 1 belong to the intermediate (C)-wave which started from the support zone lying at the intersection of the support level 0.9670, lower daily Bollinger Band and the lower support trendline of the daily down channel from last November.

USD/CHF is currently approaching the resistance level 0.9800 which was set as the buy target in our previous forecast for this currency pair. If the price breaks above the resistance level 0.9800 - USD/CHF can then rise to the next buy target 0.9900

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