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Long

USD/CHF forms bullish BAT pattern, good to buy at dip

FX:USDCHF   U.S. Dollar / Swiss Franc
236 2 9
Harmonic patternBullish BAT pattern

Potential Reversal Zone (PRZ) – 0.9520

USD/CHF             has retreated till 0.9554 after making a high of 0.9645 yesterday. It is currently trading at 0.9576. Short term trend is bullish as long as support 0.9520 holds.

Any break below 0.9520 will drag the pair down till 0.9470/0.9400.

On the higher side major resistance is around 0.9650 and break above targets 0.9680/0.9725.

The minor resistance is around 0.9600

Bullish invalidation only below 0.9520.

It is good to buy at dips around 0.9560-65 with SL around 0.9515 for the TP of 0.9680

On the 240 timeframe it actually looks like a bullish H&S in development....
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Sorry.... wrong post... I was looking at the USDCAD pair...
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