As CHF is considering as one of the safe heaven assets along with JPY its gained some strength during this financial crisis time
The Elliot wave is forming in this chart we can see that Wave 02 is almost completed and stated its run to complete the wave 03
It will form descending channel.
We can open short positions at this level which is...
Pair trading in falling channel on 4 hour chart with major resistance area comes around 1.0005 level.
USD/CHF bounce back from 0.9920 level after weak GDP numbers.
Bullish above : 1.0010
Bearish Below : 0.9950
USDCHF on FX exchange is consolidating above Pivot with possible bounce back as earlier the same PIVOT level helped in bounce back.
PLEASE CONSIDER ASKING YOUR FINANCIAL ADVISOR as its a RISK TRADE.
Buy at 0.98294 with Stop-loss of 0.97880 and Target of 0.99170