The USD/CHF pair turned to the upside and is trading at 0.8919 at the time of writing. As you can see on the H1 chart, the rate failed to extend its downside movement signaling exhausted sellers.
Now, it has passed above the downtrend line which represents a dynamic upside obstacle. Jumping above it indicates a potential upside reversal. Technically, the former high of 0.8926 represents a new upside obstacle.
USD/CHF Trading Conclusion!
Jumping and stabilizing above 0.8926 indicates further growth and represents a new buying opportunity.
The material has been provided by InstaForex Company – www.instaforex.com
USD/CHF Downside Seems Over!
The USD/CHF pair turned to the upside and is trading at 0.8919 at the time of writing. As you can see on the H1 chart, the rate failed to extend its downside movement signaling exhausted sellers.
Now, it has passed above the downtrend line which represents a dynamic upside obstacle. Jumping above it indicates a potential upside reversal. Technically, the former high of 0.8926 represents a new upside obstacle.
USD/CHF Trading Conclusion!
Jumping and stabilizing above 0.8926 indicates further growth and represents a new buying opportunity.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: