Hello Traders,
following my analysis for the pair USD/CHF for the next week(s).
We are in the daily timeframe and after 2 strong bearish candles we are directly facing a massive resistance level at round about 0.98467 with the weekend close of the markets.
Normally I would definitely respect this resistance level but if you look at the candle you can realize a huge bearish momentum which leads me to see the price dropping to 0.97985. By reaching this price level the market will turn trying to reach the 0.98467 level again, failing at breaking through the level and ends up dropping to 0.97000.
Share me your thoughts!
Cheers and Happy Weekend!
Lukas
following my analysis for the pair USD/CHF for the next week(s).
We are in the daily timeframe and after 2 strong bearish candles we are directly facing a massive resistance level at round about 0.98467 with the weekend close of the markets.
Normally I would definitely respect this resistance level but if you look at the candle you can realize a huge bearish momentum which leads me to see the price dropping to 0.97985. By reaching this price level the market will turn trying to reach the 0.98467 level again, failing at breaking through the level and ends up dropping to 0.97000.
Share me your thoughts!
Cheers and Happy Weekend!
Lukas