There is an interesting technical pattern on the USD/CHF currency pair. At the moment, quotes are consolidating after a rather prolonged growth. In the near future, the correction of the USD/CHF currency pair is not excluded. In the trading instrument, a classic technical analysis figure of Triangle has been formed, which quite often acts as a reversal formation. The level of 0.99700 is a key support. We recommend you to pay attention to this situation.
If the price fixes below 0.99700, you should consider selling USD/CHF. The immediate goal for profit taking is the round level of 0.99000. In the medium term, the USD/CHF currency pair may reach 0.98500-0.98000. Confirmations and entry points to the market should be searched on lower timeframes. When following positions, we recommend using a trailing stop.
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.