Technical analysis

USDCHF Wave Analysis – 26 September , 2018

  • USDCHF rising inside impulse wave (3)
  • Further gains are likely

USDCHF has been rising in the last few trading sessions inside the medium-term impulse wave (3), which started earlier from the support level 0.9550 (which stopped the previous short-term correction 4 in April).

The upward reversal from the support level 0.9550 created the daily Japanese candlestick reversal pattern Hammer Doji, highlighted below.

USDCHF is expected to rise further and retest the next resistance level 0.9750 (top of the previous corrections (iv) and iv from the start of September).

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