In accordance with the previous analysis , USD / CHF successfully managed to penetrate support at 0.9592 and reaching the target the range 0.9579 - 0.9558 . Currently , USD / CHF is observed approaching the descending trendline area which is around 0.9605 . The Preferences for the USD / CHF is Bearish which will be in line with the conditions of technical indicators. It is due to in overbought condition within the 1- hour chart . If the price failed to break the trendline area which is in the range of 0.9605 , then it may open the possibility the USD / CHF will move bearish towards the support area of the range of 0.9577 - 0.9564 .
Be - careful , if the descending trendline breaks apart, then it can open the possibility that USD / CHF changing the bias position which is bullish and it potentially moves up to the resistance at 0.9630 - 0.9656
Preferences : Notify bearish trend line area
Support : 0.9577 , 0.9564 , 0.9524
Resistance : 0.9605 , 0.9630 , 0.9656
No comments:
Post a Comment
Any of your feedback towards this Blog would be really appreciated. Thanks!