USDCHF Bearish Shark And ABCD Patterns
Our long trade which I have posted in our live interactive charts for members has achieved its target and generated 120 pips. – see below live interactive chart –
As I have mentioned in my DXY analysis USD is very strong. – Technically and Fundamentally –
Looking at the USDCHF pair, technically, the pair completed the AB=CD pattern at 0.99790. This level and the potential minor retracement is confirmed by Murrey Math calculations – extremely overshoot in H4 -.
The pair is likely to retrace and pullback towards 099500 and 0.99350.
These levels can be used as a buying opportunities. Our target is 1.0000 – parity – and 1.00550 where the Bearish Shark and ABCD 1.618 extension confront.
The U.S CPI is released on Wednesday. A better than expected CPI will send the pair 1.0070 and 1.01260 medium terms.
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