USDCHF is a monthly uptrend.
Since it has rebounded in the monthly demand zone, the starting line could be the new monthly correction trend line.
Then it will update the high, and after the rise, there will be a big decline because the correction pattern rises in an unfinished state. However, if the monthly uptrend is not broken, it can continue as a pattern of renewing highs.
Currently, it is continuing from the 4-hour bullish wave to the daily bullish wave. The daily demand zone is relatively moving, so watch the bullish pattern in the lower time period in a position where the daily uptrend is expected. If there is no upward trend in the daily demand zone, a retracement may occur during the weekly correction process.
However, overall, it is an uptrend, so it is better to aim for a buy opportunity.
Since it has rebounded in the monthly demand zone, the starting line could be the new monthly correction trend line.
Then it will update the high, and after the rise, there will be a big decline because the correction pattern rises in an unfinished state. However, if the monthly uptrend is not broken, it can continue as a pattern of renewing highs.
Currently, it is continuing from the 4-hour bullish wave to the daily bullish wave. The daily demand zone is relatively moving, so watch the bullish pattern in the lower time period in a position where the daily uptrend is expected. If there is no upward trend in the daily demand zone, a retracement may occur during the weekly correction process.
However, overall, it is an uptrend, so it is better to aim for a buy opportunity.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.