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 0.9870

  • USD/CHF reached buy target 0.9870
  • Next buy target - 1.0000

USD/CHF recently broke through two consecutive resistance levels – 0.9800 (mentioned in our previous forecast for this currency pair) and 0.9870 (which was set as the buy target in our earlier report for this instrument). The breakout of the resistance level 0.9870 coincided with the breakout of the 50% Fibonacci correction level of the previous primary ABC correction ② from the start of February.

The breakout of the aforementioned resistance levels accelerated the active intermediate impulse waves (3) and ③. USD/CHF is likely to rise further in the direction of the next buy target at the level of parity (forecast price calculated for the completion of the active impulse wave (3)).


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