USDCHF: Technical Outlook & The Things to Watch 🇺🇸🇨🇭

Hey traders,

Because we got Labor Day in the US today,
we do not expect the market to be volatile.

Here is my mid-term technical outlook on USDCHF for you to follow:
From the beginning of summer, the pair is ranging.
0.8925 - 0.8935 is its support.
0.9265 - 0.9275 is its resistance.

Within that range, the price formed one more range.
Since August, the pair is trading within 0.901 - 0.925 area.

I spotted bearish accumulation signs recently.
With the sequence of lower highs and equal lows, the pair formed a descending triangle.
Look for its support breakout as your signal to sell.
Goals will be: 0.901 (August's low) / 0.8935 (Summer's low)

Alternatively, consider the boundaries of summer's range for buying/selling.

❤️Please, support this idea with a like and comment!❤️

Kommentera:

Watch my new video on BTCUSD:

04:01