Harmonic pattern formed – Bullish Gartley pattern
Potential Reversal Zone (PRZ) – 0.9900
USD/CHF forms Bullish Gartley Pattern in the hourly chart with PRZ at 0.9900. The pair declined till 0.99299 and slightly recovered from that level.
The minor weakness can be seen below 0.9900 and any break below will drag the pair till 0.9860 (200- day MA)/0.9790.
On the higher side, 21- day MA will be acting as immediate resistance and any break above this level will take the pair till 1.00450/1.0070 level.
Short term weakness only below 0.98600 level.
It is good to buy on dips around 0.9950-55 with SL around 0.9900 for the TP of 1.0000/1.00445
Potential Reversal Zone (PRZ) – 0.9900
USD/CHF forms Bullish Gartley Pattern in the hourly chart with PRZ at 0.9900. The pair declined till 0.99299 and slightly recovered from that level.
The minor weakness can be seen below 0.9900 and any break below will drag the pair till 0.9860 (200- day MA)/0.9790.
On the higher side, 21- day MA will be acting as immediate resistance and any break above this level will take the pair till 1.00450/1.0070 level.
Short term weakness only below 0.98600 level.
It is good to buy on dips around 0.9950-55 with SL around 0.9900 for the TP of 1.0000/1.00445
