USDCHF - Anticipated Break of Support
USDCHF ranging in the highlighted s/r zone since 16 April.
This is a simple technical analysis on this pair as fundamentally it doesn't appear there is any clear [/I] strength/weakness of the US dollar following last night's FOMC.
We have the 0.98000 psychological level highlighted as the month's resistance which it appears price could not break so far, forming a double top. Price has also rejected the support level on multiple occasions at around the 0.97200 level.
I am anticipating a move to the downside following a strong break (e.g bearish engulfing) and retest of the current support level.
It may be sensible to wait for a closure below the 0.97000 psychological before making entry, for further conf.
Potential 100+ pip move to the April low if we get some strong bear momentum!
This is a simple technical analysis on this pair as fundamentally it doesn't appear there is any clear [/I] strength/weakness of the US dollar following last night's FOMC.
We have the 0.98000 psychological level highlighted as the month's resistance which it appears price could not break so far, forming a double top. Price has also rejected the support level on multiple occasions at around the 0.97200 level.
I am anticipating a move to the downside following a strong break (e.g bearish engulfing) and retest of the current support level.
It may be sensible to wait for a closure below the 0.97000 psychological before making entry, for further conf.
Potential 100+ pip move to the April low if we get some strong bear momentum!
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.