61.8% correction zone on USD/CHF

61.8% correction zone on USD/CHF

There is an interesting technical pattern on the USD/CHF currency pair. Yesterday, the trading instrument held the "mirror" resistance level of 0.99750, which triggered aggressive sales. The USD/CHF currency pair has updated local extremes. At the moment, quotes are consolidating near the 61.8% correction zone. The demand for safe assets is high. The USD/CHF currency pair is tending to decline in future. The local support is 0.99200. We recommend you to pay attention to this situation.

If the price fixes below 0.99200, you need to look for entry points to the market to open short positions. The immediate goal of fixing profits is 0.99000-0.98850. In the medium term, USD/CHF may reach the level of 0.98500-0.98000. When tracking the position, we recommend using a trailing stop.

by JustForex, 2018.05.30

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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