Recently, USD/CHF has been trading downwards. The price tested the level of 0.9868. According to the H1 time – frame, I found potential end of the downward correction (abc flat), which is sign that selling looks very risky. I also found a hidden bullish divergence and the falling wedge, which is another sign of strength. My advice is to watch for potential buying opportunities if you see a valid breakout of supply trendline. The upward targets are set at the price of 0.9923 and at the price of 0.9983.Resistance levels:
R1: 0.9886R2: 0.9892R3: 0.9897
Support levels: S1: 0.9875S2: 0.9870S3: 0.9864
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Recently, USD/CHF has been trading downwards. The price tested the level of 0.9868. According to the H1 time – frame, I found potential end of the downward correction (abc flat), which is sign that selling looks very risky. I also found a hidden bullish divergence and the falling wedge, which is another sign of strength. My advice is to watch for potential buying opportunities if you see a valid breakout of supply trendline. The upward targets are set at the price of 0.9923 and at the price of 0.9983.Resistance levels:
R1: 0.9886R2: 0.9892R3: 0.9897
Support levels: S1: 0.9875S2: 0.9870S3: 0.9864
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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