Categories: Technical analysis

USDCHF Wave Analysis – 18 April, 2019

  • USDCHF broke multi-month resistance level 1.0100
  • Further gains are likely

 

USDCHF today broke sharply above the key multi-month resistance level 1.0100 (which has been reversing the price from the end of last October, as can be seen below).

The breakout of the resistance level 1.0100 accelerated the active short-term impulse wave (iii) – which belongs to wave C from January.

USDCHF is expected to rise further and re-test the next key resistance level 1.0200 (target price for the completion of the active impulse wave (iii)).

 

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The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: USDCHF

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