Divergence on USD/CHF

Divergence on USD/CHF

The current technical pattern signals a possible correction of the USD/CHF currency pair after a prolonged fall. A classic reversal formation, the divergence of price and the MACD histogram (H4 timeframe), has been formed in the trading instrument. At the moment, USD/JPY quotes are stable. The 0.9185 level is the nearest resistance. We recommend paying attention to this situation.

If the price fixes above 0.9185, the USD/CHF currency pair is expected to grow. The nearest goal for profit-taking is 0.9240. The movement is tending to 0.9345-0.9390. Confirmations and market entry points should be looked for on lower timeframes. When following positions, we recommend using a trailing stop.

by Justforex 2020.09.08

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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