As you see in the 4H time frame, after a significant drop, price entered to a consolidation area in the form of a rectangle pattern.
Currently, the rectangle pattern has been broken to the upside and a strong 4H bullish candle has been closed above it.
The current candle has broken the previous candle’s high and that’s where I entered a buy position. I expect a rise on USDCHF towards the green resistance level around 0.9540
Currently, the rectangle pattern has been broken to the upside and a strong 4H bullish candle has been closed above it.
The current candle has broken the previous candle’s high and that’s where I entered a buy position. I expect a rise on USDCHF towards the green resistance level around 0.9540
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.