By: Fadi Steitie
Currency: USD/CHF
Trend Expected Direction: Up
Method: Elliott Waves and Fibonacci Levels
Description: Just pointing out a soft target in USD and Swiss Frank pair after the trend broke the resistance level at 0.9125 pivot which became a support now (Red Circle). As per Elliott logic, a forth wave in a form of Zigzag is in progress that would hit 0.318 Fibonacci level which comes exactly on wave iv at 0.9125 and from that point, I expect a further progress in trend toward soft target 0.9175.
Recommendation: Buy and hold
Target Area: 0.9175
Stop Loss: 0.9100