Divergence on USD/CHF

Divergence on USD/CHF

The current technical pattern signals a possible correction of the USD/CHF currency pair after a rather strong growth last week. A classic reversal formation has been formed in the trading instrument - the price and MACD histogram divergnece (H1 timeframe). At the moment, the USD/CHF currency pair is consolidating. The trading instrument is close to the “mirror” support level of 0.99300. We recommend paying attention to this situation.

If the price fixes below 0.99300, you need to look for entry points to the market in order to open short positions. The immediate goal for profit taking is the round level of 0.99000. The movement is tending to 0.98800-0.98600. When follwoing a position, we recommend using a trailing stop.

by JustForex, 2018.10.22

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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