This USD/CHF pair is bullish in the long-term, and bearish in the short-term. Last week, the price turned southwards, testing the level at 0.9900 several times and eventually closing below it on Friday. One reason why the market became bearish in the short-term is the strength in CHF. CHF is still strong, as evident on the major CHF pairs.
The market can thus reach the support levels at 0.9850 and 0.9800, thereby erasing the long-term bullish outlook on the market… Short trades are not currently advisable as further bearish movement is a strong possibility.
The material has been provided by InstaForex Company – www.instaforex.com
USD/CHF
This USD/CHF pair is bullish in the long-term, and bearish in the short-term. Last week, the price turned southwards, testing the level at 0.9900 several times and eventually closing below it on Friday. One reason why the market became bearish in the short-term is the strength in CHF. CHF is still strong, as evident on the major CHF pairs.
The market can thus reach the support levels at 0.9850 and 0.9800, thereby erasing the long-term bullish outlook on the market… Short trades are not currently advisable as further bearish movement is a strong possibility.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: