Bearish outlook at the moment, however we could see a reversal once price has touched the 0.95000 region as price has been bounced of it plenty of times since early 2016. If price bounces of it we could see the daily resistance as the first target.
Bullish outlook as price has respected ascending trend line on 4 previous occasions, it has acted as a significant support level when ever the market was looking for lows.
This ascending trend line is significant as it a weekly one.
looks like a morning start candlestick formation is taking place off monthly support on the daily chart. This is a bullish reversal pattern. Entering trade once the bullish candle has closed towards the upper 40 percent of the of the bearish candlestick, and once ma's have crossed over each other on 4hr chart
looking bearish. Top down analysis, weekly shows a 50 percent fib retracement has been completed. MA have tried to crossover to the upside but failed to do so, showing bearish momentum is still on track. Bearish trend line has been respected. counter trendline which is acting as support during this slight consolidation looks like it will give way soon. RSI...
USD/CHF IS BOUNCING INBETWEEN TO TWO TREND LINE. THIS BULLISH PENNANT FORMATION SHOULD ALLOW FOR USD TO BREAK UP TO THE UPSIDE. ONCE RESISTANCE TREND LINE IS BROKEN WE COULD SEE A RETEST OF IT, BEFORE BULLS LOOK TO FURTHER PUSH USD/CHF TO MONTHLY RESISTANCE.
WAVE 3 LOOKS LIKE ITS ABOUT TO END AS IT HAS OCCURRED MONTHLY RESISTANCE, COULD SEE WAVE 4 FORM THE PULL BACK TO 38% OR 50% FIB OF WAVE 3. IF THAT DOESN'T HOLD THEN WEEKLY SUPPORT IN RED SHOULD PROVIDE A SOLID BASIS.