Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

USD/CHF analysis for August 01, 2018

August 1, 2018 Analytics

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Recently, the USD/CHF has been trading upwards. The price tested the level of 0.9930. According to the H1 time – frame, I found a potential end of the fifth wave (Wolfe wave pattern), which is a sign that selling looks risky and that buying is preferable. My advice is to watch for potential buying opportunities on the pullback. The projected upward targets are set at the price of 0.9980 and at the price of 1.000.

Resistance levels:

R1: 0.9934

R2: 0.9945

R3: 0.9956

Support levels:

S1: 0.9912

S2: 0.9900

S3: 0.9890

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company – www.instaforex.com

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