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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 reached buy target 0.9650

By: Dmitriy Chernovolov

  • USD/CHF reached buy target 0.9650
  • Next buy target - 0.9800

USD/CHF recently rose sharply breaking through the resistance level 0.9650, which was set as the buy target in our previous forecast for this currency pair. The breakout of the resistance level 0.9650 (former strong support level, which reversed the previous minor impulse waves (i) and (iii) in February and March) is likely to accelerate the active intermediate impulse wave (C)- which started earlier – when the pair reversed up from the major long-term support level 0.9500.

USD/CHF is likely to rise further in the active impulse wave (C) toward the next buy target at the resistance level 0.9800 (coinciding with the 50% Fibonacci correction of the previous sharp downward impulse from the start of March).

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