Divergence on USD/CHF

Divergence on USD/CHF

Last week, the USD/CHF currency pair held the key offer zone of 0.95300-0.95650, which caused the bearish sentiment. The trading instrument has the potential for further correction. At the moment, a classic reversal formation of technical analysis, the price and MACD histogram divergence, has been formed (H4 timeframe). The USD/CHF quotes are testing the "mirror" support of 0.94500. We recommend you to pay attention to this situation.

If the price fixes below the 0.94500 mark, you need to look for entry points to the market to open short positions. The immediate goal of fixing profits is the round level of 0.94000. In the medium term, the USD/CHF currency pair may reach the level of 0.93600-0.93000. When tracking the position, we recommend using a trailing stop.

by JustForex, 2018.03.26

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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