When I started trading stocks a few years ago, I often needed to pay more attention to my technical analysis skills and trust that the market would play fair according to my analysis. I have since discovered that the safer approach to trading stocks is to, more often than not, seek out investing opportunities - that is, catching stock commodities with a potential to rise.
Will the CHF bounce back down from the resistance?
2019-11-13 • Updated
Since the very end of October, today is the third time that CHF has risen to the resistance level of 110.13. On the H1 chart of CHFJPY, it will very likely bounce back down. To get a confirmation, we need to watch out for the RSI to cross the 70% level upside-down. In this scenario, the support levels of 109.74, 109.66 and 109.34 may be the barriers for the bears. Otherwise, a resistance level may be placed at 110.30 for the upward movement.
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