USDCHF, slow move in Week 13, can it resume in Week 14?
USDCHF did move upwards in Week 13, even though it moved according to analysis, but the move is more of a consolidating move than a strong move. Nonetheless, traders who went long on this pair would be able to get some profit out of USDCHF.
In Week 13, it managed to break into Bullish level 2. Possible reversal pattern was spotted at level 2 and the lack of a strong move pointed me to a possible trend reset at this area. Meaning a brand new Bearish or Bullish might be formed.
At this current stage, it doesn't seem that the Trend Reset has been completed, thus I am putting a neutral take on this pair. It is unlikely to expect the move after the Trend Reset as it can be bearish or bullish.
So for Week 14, it would be wise to avoid and watch the movement of USDCHF. I would suggest for traders to wait on the line and continue to monitor until a firm signal has been issued.
I hope all traders continue to make a good profit in the coming Week 14. If my analysis helped you in any way, please like and follow me in Tradingview, thank you!!
In Week 13, it managed to break into Bullish level 2. Possible reversal pattern was spotted at level 2 and the lack of a strong move pointed me to a possible trend reset at this area. Meaning a brand new Bearish or Bullish might be formed.
At this current stage, it doesn't seem that the Trend Reset has been completed, thus I am putting a neutral take on this pair. It is unlikely to expect the move after the Trend Reset as it can be bearish or bullish.
So for Week 14, it would be wise to avoid and watch the movement of USDCHF. I would suggest for traders to wait on the line and continue to monitor until a firm signal has been issued.
I hope all traders continue to make a good profit in the coming Week 14. If my analysis helped you in any way, please like and follow me in Tradingview, thank you!!
