Outside Bar on USD/CHF

Outside Bar on USD/CHF

Last week the aggressive sales were observed on USD/CHF. At the moment, we do not exclude a technical correction. Near the local demand zone of 0.94400-0.94500, a number of Outside Bar patterns was formed, which indicates the power of buyers in the short term.

If the price fixes above the local resistance of 0.94750, you need to look for entry points to the market in order to open long positions. The closest target for profit taking is the local offer zone of 0.95200-0.95350. We recommend reducing risks. This transaction is countertrend.

by JustMarkets, 2017.07.24

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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