FX.co ★ IgniteTrade | USD/CHF

USDCHF Forecast: I hope you are all doing good, As part of my technical analysis today, I have chosen USD/CHF. H1 time frame shows USD/CHF running in an up-trend channel. In the channels upper part, prices are falling after touching the resistance level of 0.77090. The currency pair USD/CHF failed to reach 0.76740. It was the level at which the currency pair was rejected. We now have a problem with the H4. Using the D1 timeframe, we can see that the current price of the device is 0.77190, which is within the RSI channel with support levels of 0.77635 and 0.75580. As you approach the envelope border, you can begin to open positions. Remember that if the price of an instrument falls within the RSI indicator, it indicates that the price is balanced.

Working by the ranges boundaries for the bearish position is better. The lowest volatility spot borders on 0.77258 and 0.65830. Making a timely decision on fixing quick profits is essential. When the price exceeds the lower volatility range, it is usually due to news. We would close all sales if the MACD indicator indicated a split state. In the case of strengthening the MACD, we will begin to hold the temporary position once again if it supports it. That is why, The reversal will be confirmed when it reaches the intersection of the middle of the 0.76697 channel, at which time we will be reminded that sales are now over. It will be helpful in your trading strategy.