Overall view of USDCHF - Update of June 17th week
Previous view: Odds of a bull continuation are high, stay bullish and buy at any low point while we don't break the support zone or 0.98601 bottom level.
Actual outcome: Prices were side ways with a test of the strong institutional level 1.00000 and forming a daily doji bar.
Actual view: 1.00000 top level attempted to be broken after a sharp bull trend. Prices are still subjected to a bull pressure. Odds of a bull trend continuation are high.
Possible targets : @1.0100 (+100pips) and @1.0200 (+200pips).
Advice : Stay bullish and buy at any low point while we don't break the support zone or 0.99500 bottom level.
Correlated pairs : USDJPY (89.6%), XTIUSD (88.5%), EURCHF (89.2%), XAUUSD (-87.9%).
We are more likely to experience a strong bull spike with the USDJPY , EURCHF and XTIUSD pairs. In fact a bullish trend on USDCHF may announce an incoming bearish trend of XAUUSD , actually under sellers pressure.
Actual outcome: Prices were side ways with a test of the strong institutional level 1.00000 and forming a daily doji bar.
Actual view: 1.00000 top level attempted to be broken after a sharp bull trend. Prices are still subjected to a bull pressure. Odds of a bull trend continuation are high.
Possible targets : @1.0100 (+100pips) and @1.0200 (+200pips).
Advice : Stay bullish and buy at any low point while we don't break the support zone or 0.99500 bottom level.
Correlated pairs : USDJPY (89.6%), XTIUSD (88.5%), EURCHF (89.2%), XAUUSD (-87.9%).
We are more likely to experience a strong bull spike with the USDJPY , EURCHF and XTIUSD pairs. In fact a bullish trend on USDCHF may announce an incoming bearish trend of XAUUSD , actually under sellers pressure.