Hi Folks:
Here's my view on this pair. We are currently approaching an area where the pair has to decide which channel to follow, the longer term descending channel (red) or the newest ascending channel (green).
On the weekly timeframe all the main EMAs converge at the same point and it is all mixed up, NEUTRAL. So we need to keep patiently awaiting where it will break out first and then follow the trend.
CHF is used as a safe haven in tough times but USD is performing very good after the pandemics so fundamentals are as well clashing here.
For some reasons I think we are going to break up and continue the uptrend.
Uptrend 75%
Downtrend 25%
Let's see what happend in the coming weeks and then will place our positions.
Cheers
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Here's my view on this pair. We are currently approaching an area where the pair has to decide which channel to follow, the longer term descending channel (red) or the newest ascending channel (green).
On the weekly timeframe all the main EMAs converge at the same point and it is all mixed up, NEUTRAL. So we need to keep patiently awaiting where it will break out first and then follow the trend.
CHF is used as a safe haven in tough times but USD is performing very good after the pandemics so fundamentals are as well clashing here.
For some reasons I think we are going to break up and continue the uptrend.
Uptrend 75%
Downtrend 25%
Let's see what happend in the coming weeks and then will place our positions.
Cheers
-------------------------------------------------
Remember, if you liked this idea don't forget to click LIKE and FOLLOW. That will encourage me to continue charting for you.
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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.
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.