Beware: USDCHF Upward Bound!
Hello fellow risk-takers
As regards USDCHF:
1. The pair fell on Friday as a result of its absorbing seller's liquidity at the re-test of the previous high and NOT because of trend reversal (highly unlikely)
2. The pair is still very bullish. The question becomes at which price level to buy.
3. The marked resistance zone implies an area of interest for long orders.
4. The correct approach is to wait for Monday close to see any patterns of reversal in the daily candlestick.
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*The above analysis is for entertainment purposes only and may not be construed as investment advice.
As regards USDCHF:
1. The pair fell on Friday as a result of its absorbing seller's liquidity at the re-test of the previous high and NOT because of trend reversal (highly unlikely)
2. The pair is still very bullish. The question becomes at which price level to buy.
3. The marked resistance zone implies an area of interest for long orders.
4. The correct approach is to wait for Monday close to see any patterns of reversal in the daily candlestick.
__________________________
*The above analysis is for entertainment purposes only and may not be construed as investment advice.
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