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 approached resistance level 0.9950

  • USD/CHF approached resistance level 0.9950
  • Next buy target – 1.0000

USD/CHF has been rising in the last few trading sessions inside the minor impulse waves (iii) and 3 – both of which are a part of the intermediate impulse wave (3) from the end of June. The price previously broke through the resistance level 0.9890 – which strengthened the bullish pressure on this currency pair.

USD/CHF is currently trading close to the resistance level 0.9950 (top of the previous intermediate impulse wave (1) from May). If USD/CHF breaks above the resistance level 0.9950 – the pair can then be expected to rise further to the next buy target at the parity (forecast price for the completion of impulse 3).

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