Technical Analysis of Intraday Price Movement of USD/CHF Main Currency Pairs, Tuesday November 07, 2023.
November 7, 2023 7:22 am
If we look at the 4-hour chart of the USD/CHF main currency pairs since the appearance of the first deviation between price movements and the RSI (Pink) indicator coupled with the appearance of the Bearish 123 pattern followed by two Bearish Ross Hooks (RH), it gives a fairly clear indication that Sellers are dominating that main currency pair, even though the appearance of a second deviation between price movements and the RSI indicator (Orange), gives a hint that an upward retrace will occur, but as long as it does not exceed the 0.9050 level, USD/CHF still has the potential to weaken to the 0.8918 level.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
If we look at the 4-hour chart of the USD/CHF main currency pairs since the appearance of the first deviation between price movements and the RSI (Pink) indicator coupled with the appearance of the Bearish 123 pattern followed by two Bearish Ross Hooks (RH), it gives a fairly clear indication that Sellers are dominating that main currency pair, even though the appearance of a second deviation between price movements and the RSI indicator (Orange), gives a hint that an upward retrace will occur, but as long as it does not exceed the 0.9050 level, USD/CHF still has the potential to weaken to the 0.8918 level.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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