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Uncharted-FX
Aug 16, 2019 1:14 AM

USDCHF Head and Shoulders. Long

U.S. Dollar/Swiss FrancFXCM

Description

USDCHF reached a support zone, and got rejected. Check out the engulfing candle. We know where the buyers are.

Seems like we also made a higher low swing with the right shoulder. Not a textbook head and shoulders, but rarely do we get perfection. Again, all this pattern shows us is a shift from one trend to another.

I would await for a close above 0.9780 to get above those candles as indicated by the blue neckline.

0.9900 zone for take profit target.
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