USD/CHF: detailed chart breakdown and the next target
Judging by the fact that a solid ascending channel has been formed, the middle to long-term sentiment of the pair is expected to remain bullish.
At the moment, the price is ranging within the borders of the consolidation box identified on the chart. The previous DAILY candlestick has closed impulsively bearish, which means there is still a bit of room for the price to drop.
We are eyeing the area below the range that lines up with the lower boundary of the ascending channel for entering long positions. Our initial target will be set at the area of resistance plotted on the graph.
At the moment, the price is ranging within the borders of the consolidation box identified on the chart. The previous DAILY candlestick has closed impulsively bearish, which means there is still a bit of room for the price to drop.
We are eyeing the area below the range that lines up with the lower boundary of the ascending channel for entering long positions. Our initial target will be set at the area of resistance plotted on the graph.
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