I've created a technical analysis chart for the USD/CHF currency pair on TradingView. Here are the specific observations:
Highlighted Previous Week's Highs and Lows:
I've marked the highest and lowest points of the previous week on the chart with horizontal lines labeled as "WEEKLY HIGH" and "WEEKLY LOW."
Key Psychological Zone:
Both the weekly high and weekly low fall into our psychological zone. This area is crucial for traders as it represents significant price levels that may influence market behavior.
No Weekly Confirmation:
There has been no weekly confirmation, meaning that despite the movements within these key levels, the trend on the weekly timeframe has not been confirmed.
This setup provides a clear view of significant price levels and zones that may impact trading decisions, especially considering the lack of weekly trend confirmation.
Highlighted Previous Week's Highs and Lows:
I've marked the highest and lowest points of the previous week on the chart with horizontal lines labeled as "WEEKLY HIGH" and "WEEKLY LOW."
Key Psychological Zone:
Both the weekly high and weekly low fall into our psychological zone. This area is crucial for traders as it represents significant price levels that may influence market behavior.
No Weekly Confirmation:
There has been no weekly confirmation, meaning that despite the movements within these key levels, the trend on the weekly timeframe has not been confirmed.
This setup provides a clear view of significant price levels and zones that may impact trading decisions, especially considering the lack of weekly trend confirmation.
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