USD/CHF may rise a bit

USD/CHF may rise a bit

2020-01-17 • Updated

USD/CHF formed a “hammer” candlestick on the D1. The most recent price low wasn’t confirmed by the Awesome Oscillator on this timeframe. The pair’s rising and ready to try and get above 0.9661 (August low). The price action on the H1 resembles an inverted “Head and Shoulders” pattern. This means that the USD will have a chance to correct higher, to the 0.9690/0.9700 area (50-day MA).

Trade idea

BUY 0.9665; TP 0.9695; SL 0.9650

USDCHFH4.png

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