Technical Analysis of Weekly Price Movement of USD/CHF Main Currency Pairs, Tuesday October 31, 2023.
October 31, 2023 6:27 am
On the weekly chart of USD/CHF main currency pairs seems there is a price movement which is moving inside the Bearish Pitchfork channel and below the Kumo, also there is the Bearish Y Wave pattern so that USD/CHF has the potential to weaken to the level of 0,8460. Nevertheless, Tenkan Sen which has Golden Cross above Kijun Sen as well as Chikou Span which is above the price, although this elements still below the clouds, gives the clue that there is the potential of above correction, but as long as those correction doesn’t break above the level 0,9243, then USD/CHF still has the potential to finish that Bearish Y Wave.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
On the weekly chart of USD/CHF main currency pairs seems there is a price movement which is moving inside the Bearish Pitchfork channel and below the Kumo, also there is the Bearish Y Wave pattern so that USD/CHF has the potential to weaken to the level of 0,8460. Nevertheless, Tenkan Sen which has Golden Cross above Kijun Sen as well as Chikou Span which is above the price, although this elements still below the clouds, gives the clue that there is the potential of above correction, but as long as those correction doesn’t break above the level 0,9243, then USD/CHF still has the potential to finish that Bearish Y Wave.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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