LegionQ8

Swiss Franc can leave pennant and continue to grow to 0.8760

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 a few days ago rebounded from the seller zone, which coincided with the 0.8760 resistance level and declined until the support level. After this, the price rebounded and started to rise in an upward channel, where it rose to the resistance line, thereby breaking the 0.8760 level, but later it bounced from this line and fell to the support line. A few time later Swiss Franc tried to rise higher than the seller zone, but failed and declined to the support level, which coincided with the buyer zone and even fell lower than this zone. Also, the price exited from the channel and entered to the pennant, in which CHF rebounded from the support line and rose to the resistance line, breaking the 0.8670 level. At the moment price continued to trades near the resistance line and I think that price can fall to the support line and then rebound up higher than the resistance line, thereby exiting from the pennant. After this, the Swiss Franc can continue to move up to the 0.8760 resistance level, so I set my target at this level. Please share this idea with your friends and click Boost 🚀

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