Inside Bar on USD/CHF

Inside Bar on USD/CHF

The bearish sentiment is prevailing on the USD/CHF currency pair. Quotes have updated local lows. The technical pattern signals a continuation of the downward trend. A classic pattern of Price Action, Inside Bar, (H4 timeframe), has been formed in the trading instrument, which currently acts as a formation of the current trend continuation. At the moment, the USD/CHF currency pair is testing the support level of 0.98700. We recommend paying attention to this situation.

If the price fixes below 0.98700, USD/CHF sales should be considered. The immediate goal for profit taking is 0.98400. The movement is tending to 0.98000-0.97700. Confirmations and market entry points should be looked for on lower timeframes. When tracking positions, we recommend using a trailing stop.

by JustForex 2019.11.14

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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