USDCHF is bounced from 0.90000 markUSDCHF
USDCHF is making a big falling wedge pattern which is similar to the
WXYXZ Elliott impulse wave pattern is a indication of the buyers
are gaining some strength to make this pair more bullish
Yesterday the upside resistance trend line was broken and it's currently
in a retest phase which will give as a good risk reward ratio
We can open buy orders at this level and the potential take profit
will be 0.92000 which is a major psychological and it's coordinates
with the upside trend line which is still intact since may
If the major trend line is broken we can expect a longer bullish run towards 0.97000
In H4 chart the price is trading above the 50,100 Exponential moving average and the
next hurdle is a 200 EMA will act as a recent resistance to the bullish run
If the price broken at 0.91500 it's a clear sign of more bullish trend
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only
