Divergence on USD/CHF

Divergence on USD/CHF

The current technical pattern signals a possible correction of the USD/CHF currency pair after a continuous fall. A classic reversal formation, the divergence of price and MACD histogram (H4 timeframe), has been formed in the trading instrument. At the moment, the USD/CHF quotes have become stable. The level of 0.98300 is the nearest resistance. We recommend paying attention to this situation.

If the price fixes above 0.98300, USD/CHF purchases should be considered. The immediate goal for profit taking is 0.98650. The movement is tending to the round level of 0.99000. Confirmations and market entry points should be looked for on lower timeframes. When following positions, we recommend using a trailing stop.

by JustForex 2019.12.23

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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