USDCHF- 0.88 - 0.87 looks like a strong support area
USD/CHF - a map for the future
USDCHF has been in a huge downtrend cycle lasting 40 years from 1971 until 2011
In truth the top was in 1970, therefore perhaps it could be even a 50 year cycle ending in 2020.
By the way, 0.88 - 0.87 is a confluence of several systems of analysis and therefore looks like a strong support area, perhaps capable of a valuable bounce for the price, or even to start a reversal.
The price have already made kind of a double bottom in 2011 and 2015, and it seems approaching again the same rising trendline and the price could tap it around september/October.
This would be a triple touch of the trendline, which, if the price would hold above it with weekly candle close, would be really likely to develop a reversal formation for a while.
By the way, in the charts there are 4 important rising trendlines, as well as all the other main horizontal support and resistance which could be useful to assess other trades in the future.
L.S. MASTER TRADING SYSTEM
USDCHF has been in a huge downtrend cycle lasting 40 years from 1971 until 2011
In truth the top was in 1970, therefore perhaps it could be even a 50 year cycle ending in 2020.
By the way, 0.88 - 0.87 is a confluence of several systems of analysis and therefore looks like a strong support area, perhaps capable of a valuable bounce for the price, or even to start a reversal.
The price have already made kind of a double bottom in 2011 and 2015, and it seems approaching again the same rising trendline and the price could tap it around september/October.
This would be a triple touch of the trendline, which, if the price would hold above it with weekly candle close, would be really likely to develop a reversal formation for a while.
By the way, in the charts there are 4 important rising trendlines, as well as all the other main horizontal support and resistance which could be useful to assess other trades in the future.
L.S. MASTER TRADING SYSTEM
Trade closed: target reached
