LegionQ8

Swiss Franc can rebound up from buyer zone to 0.8900

Long
FX:USDCHF   U.S. Dollar / Swiss Franc
Hello traders, I want share with you my opinion about Swiss Franc. Looking at the chart, we can see how the price some days ago made an upward impulse to the 0.9015 resistance level, which coincided with the seller zone and soon broke it. After this price some time traded near and then rose to the resistance line of the triangle. Then Swiss Franc rebounded from this line and fell to the support line, thereby breaking the 0.9015 resistance level again. Price tried to back up, but failed and made a strong downward impulse to the current 0.8840 resistance level, thereby exiting from the triangle and entering to range as well. In range, CHF declined to 0.8840 level and a not long time ago it broke this level too. And now, the price trades below the 0.8840 level in the buyer zone inside the range. In my mind, the Swiss Franc can rebound up from the buyer zone to the top part of the range, thereby breaking the resistance level. For this case, I set up my target at the 0.8900 level. Please share this idea with your friends and click Boost 🚀

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