Today I am looking at the USDCHF.
The currency pair have reached an interim resistance level at 0.9525. It looks like there are two possible outcomes here.
Price break outs and continues its uptrend to the next resistance level at 0.9725
Price rebounds and comes down 0.9425 and then possibly to 0.9200.
I will be following this pair closely and try to find more confirming signals for either one of those scenarios above. So far, there is a long-legged doji that formed on the daily timeframe.
Next day’s candle might be confirming any one of those scenarios.
The currency pair have reached an interim resistance level at 0.9525. It looks like there are two possible outcomes here.
Price break outs and continues its uptrend to the next resistance level at 0.9725
Price rebounds and comes down 0.9425 and then possibly to 0.9200.
I will be following this pair closely and try to find more confirming signals for either one of those scenarios above. So far, there is a long-legged doji that formed on the daily timeframe.
Next day’s candle might be confirming any one of those scenarios.