Currency pair USDCHF Analysis 05.09.2019

Analysis based on round-number levels, price channels and modified Elliot Waves

Important round-number level 0.9800 held back sellers. The downward sloping channel is breached by the formation of Fractal Start above the 365-day moving average (0.9843). A breach of the fractal start will result in an upwards wave pattern on level M30 as part of another wave pattern (C) on level H12.

Trading recommendations:

Buy above 0.9843.

Stop Loss at 0.9800.

Target levels – 0.9920; 0.9950.

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