💱USDCHF - Double bottom in tandem with a triangle
USDCHF forms a double bottom, which plays the role of a reversal pattern relative to the support 0.89000. The price makes a retest of the pattern base. Breakout of the level will start the implementation of the reversal pattern
TA reversal pattern on the high timeframe:
1) Buyers begin to buy out the price without waiting for the retest of the range support.
2) The trend is neutral as the price is in flat.
TA on a low timeframe:
1) A triangle pattern is forming on the 1H timeframe. The price breaks the figure and makes a retest of resistance 0.90000
2) The mentioned resistance plays an important role regarding the pattern "Double bottom", which is formed at the level of 0.89000. 3) A break through 0.9000 will start the realization of the pattern "double bottom". In this case the price will make an impulse for growth towards 0.91000.
Key support📉: 0.89656
Key resistance📈: 0.90000
TA reversal pattern on the high timeframe:
1) Buyers begin to buy out the price without waiting for the retest of the range support.
2) The trend is neutral as the price is in flat.
TA on a low timeframe:
1) A triangle pattern is forming on the 1H timeframe. The price breaks the figure and makes a retest of resistance 0.90000
2) The mentioned resistance plays an important role regarding the pattern "Double bottom", which is formed at the level of 0.89000. 3) A break through 0.9000 will start the realization of the pattern "double bottom". In this case the price will make an impulse for growth towards 0.91000.
Key support📉: 0.89656
Key resistance📈: 0.90000
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