On the long term, the good news for the bulls is that the pair is back into the descending trading channel and a move to the upside might be expected. For the short term, however, price remains very unstable as market participants are now in a dispute who is going to take control over it.
If we can get a close inside the channel, we might expect the pair to gain momentum and start climbing towards first bull target at 0.9825.
If bears push the price down, first potential target would be the last low of 0.9690 and major bear target around 0.9550.
Char: USD/CHF H4
Thank you for the analysis.
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ReplyDeleteWell spotted! I'll keep it in mind.
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ReplyDeleteAs always, very detailed analysis.
ReplyDeleteVery helpful and insightful analysis, excellent.
ReplyDeleteVery useful information! Thanks.
ReplyDeleteVery helpful.
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