Head and shoulders on USD/CHF

Head and shoulders on USD/CHF

In the near future, the bearish sentiment may prevail on USD/CHF. A classic reversal figure of the technical analysis "Head and shoulders" (H1 timeframe) was formed in the trading instrument. The round level of 0.96000 is the closest support. We recommend you to pay attention to this situation.

If the price fixes below the 0.96000 mark, you need to look for entry points to the market to open short positions. The target level of movement is 0.95500. In the medium term, the USD/CHF currency pair may reach a round level of 0.95000. When tracking the position, we recommend using a trailing stop.

by JustForex, 2017.09.15

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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.