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Usdchfprediction

USDCHF: Will institutions step in and push the price high soon?USDCHF is showing persistent weakness for more than 6 weeks now. However, it seems like the weakness is about to end. 0.9660 area has proved to be a decent demand area for a couple of weeks now which means this area is certainly keeping buyers interested. But, sellers are also lurking in the 0.9730-0.9750 zone. At this point, I believe we need some catalysts to push the price out of this consolidation zone. Either way 0.9650-0.9670 is critical for buyers. I will definitely look to buy into this market as it offers a low-risk set-up provided I see some signs of major buyers stepping in. Alternatively, a clear break of the consolidation zone will see this market fall back to the next meaningful demand area at 0.9500 DISCLAIMER: This is merely a trading set-up. Whether I execute this trade will depend on many factors. I will update in my channel if I decide to take this trade.
Long
by YourLazyTrader
1
USDCHF bounced from support, potential for a further rise! USDCHF bounced off 0.96676 where it could potentially rise further to 0.97510. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Long
by Pepperstone