USDCHF Analysis: price is currently buying from support zone price 0.90651 we are expecting price to reach resistance zone price 0.93474 before continue selling trend long term H4 and daily time frame 📈
On the monthly channel USDCHF broke a huge ascending channel and consequently the 0.95500 zone which has been an historical support in the past.
Price created a descending highs before falling till the next monthly support at 0.91 zone.
For the next weeks we can expect some nervous move in the market with some sharp retracement to the upside before a break to the...
The price shows us a bullish wave and starts to fall again.
That is the best confirmation of the bearish trend.
Such waves hit a lot of bullish stop losses.
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Price is trading in an uptrend after we had a double bottom reversal pattern, I would expect price to continue this uptrend so I have placed a buy at the higher low with a target at the next higher high.
If price opens below the trendline I will be looking to go SHORT on USDCHF. I'm using fibs to work my entries and stop loss.
Price could bounce so be patient! and wait for confirmation.
Good luck! Good trading!
The counter is currently in sideways consolidation mode.
It is currently in its lower end of the range and the short-term indicators show signs of oversold condition.
Further, the wave interpretation deems a wave C move to the upper end of the range.
Hence, we expect the pair to be bullish in the near-term.