USDCHF Forex Chart
I THINK AT THIS POINT USDCHF MIGHT MAKE A BIG REVERSAL
USDCHF am really liking the set up am seeing on this pair Last week, the price bounced off the lower border of the ascending channel and broke through the strong support line at 0.894 during the rise. This line has been around since summer 2020 and now gives the price a strong base for growth. After the breakout, the price fixed on the line, but eventually stopped at the resistance line - the upper border of the channel - 0.902. Now the price is in the fall and I expect that first of all it will go down to the strong support zone of 0.892. This zone is just formed at the intersection of the 2020 line and the trend line of the beginning of 2021. And then the price will rise to the resistance line of 0.905.
I THINK AT THIS POINT USDCHF MIGHT MAKE A BIG REVERSAL
USDCHF am really liking the set up am seeing on this pair Last week, the price bounced off the lower border of the ascending channel and broke through the strong support line at 0.894 during the rise. This line has been around since summer 2020 and now gives the price a strong base for growth. After the breakout, the price fixed on the line, but eventually stopped at the resistance line - the upper border of the channel - 0.902. Now the price is in the fall and I expect that first of all it will go down to the strong support zone of 0.892. This zone is just formed at the intersection of the 2020 line and the trend line of the beginning of 2021. And then the price will rise to the resistance line of 0.905.