Double Top on USD/CHF

Double Top on USD/CHF

At the moment there are aggressive sales on USD/CHF. The trading instrument has the potential for further correction. On the USD/CHF currency pair, a rather strong reversal figure of the technical analysis, Double top, (H4 timeframe) was formed. Local support is the level of 0.97250. We recommend paying attention to this formation.

If the price fixes below 0.97250, you need to look for entry points to the market to open short positions. The closest target for fixing profit is the demand zone of 0.96500-0.96750. In the medium term, the USD/CHF currency pair may reach a round level of 0.96000. When following a position, you should use a trailing stop.

by JustForex, 2017.10.19

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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.