USD/CHF forms Bearish Butterfly Pattern, good to sell on rallies
Harmonic Pattern formed- Bearish Butterfly Pattern
Potential Reversal Zone -1.0125.
The pair has made a high of 1.0085 at the time of writing and started to decline from that level.
Any break above 1.0125 will take the pair to new level 1.0160/1.0240 in short term.
On the downside major support is around 1.0025 and break below targets 0.9980/0.9950.
Overall weakness only below 0.9980 levels.
It is good to sell on rallies around 1.0065-70 with SL around 1.0125 for the TP of 0.9980/0.9950
Potential Reversal Zone -1.0125.
The pair has made a high of 1.0085 at the time of writing and started to decline from that level.
Any break above 1.0125 will take the pair to new level 1.0160/1.0240 in short term.
On the downside major support is around 1.0025 and break below targets 0.9980/0.9950.
Overall weakness only below 0.9980 levels.
It is good to sell on rallies around 1.0065-70 with SL around 1.0125 for the TP of 0.9980/0.9950