USD/CHF: new uptrend
May 15, 2023 4:22 pmVideo
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USD/CHF Upside Scenario Intact!
The USD/CHF pair is moving somehow sideways in the short term. It’s located at 0.8956 at the time of writing. You knew from my previous analysis that the price could develop an upside reversal after passing above the downtrend line. I’ve told you that 0.8998 represents an upside obstacle.
Personally, I’ve drawn an uptrend line which represents a downside obstacle. As long as it stays above it, the currency pair could resume its growth, it could approach and reach new highs.
USD/CHF Trading Conclusion!
Staying above the uptrend line and jumping beyond 0.8998 activates further growth. This is seen as a new buying opportunity.
The material has been provided by InstaForex Company – www.instaforex.com
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