Outside Bar and Pin Bar on USD/CHF

Outside Bar and Pin Bar on USD/CHF

In the near future, purchases may prevail on the USD/CHF currency pair. Near the key support level of 0.98500, a number of classic patterns of the Price Action called Outside Bar and Pin Bar methods were formed, which indicate the growth of the USD/CHF quotes. At the moment, the price is testing a round level of 0.99000. We recommend you to pay attention to these patterns.

If the price fixes above 0.99000, it is necessary to consider buying USD/CHF. The closest goal of fixing profits is the "mirror" resistance level of 0.99400. The movement is tending to the offer zone of 1.00100-1.00300. When tracking the position, we recommend using a trailing stop. Confirmations and entry points to the market should be looked for on lower timeframes.

by JustForex, 2017.12.21

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.

Open Account

Get Free Analytics

* required fields
Last Articles
All Articles
What Forex pairs to trade?
Forex is a market, where the currencies are traded. Currencies are traded in pairs, so a Forex pair is a ratio of one currency's value to another.
Read more
Real Estate economic indicators.
There are several important real estate market metrics today. If we are talking about the United States, these are Building permits, Housing Starts, New Home Sales, Existing Home Sales, and Pending Home Sales. These economic metrics are often not highlighted in economic calendars, but they are the most important parameters reflecting the state of the real estate market in the country.
Read more
OPEC+ meeting
The Organization of Petroleum Exporting Countries (OPEC) is an international organization composed of oil exporting countries whose main purpose is to control production quotas for raw materials to ensure price stabilization in international oil markets.
Read more