USDCHF: The price is going to PULLBACK again!
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🟢Forex Pair:
USD/CHF
⚪Technical Analysis:
Since the 6th of January 2021, the price has been following an interesting trendline, re-testing many times the strong S/R zone at about 0.89250, breaking it during the 1st of February with a really strong bullish upbar.
The bullish impulse lasted for few days, ending with a clear rejection on the level at about 0.90400 followed by a quick downtrend until the previous S/R zone.
The price is currently at the end of its short consolidation and it could re-test soon its main trendline.
🔴Conclusion:
I think that we could get an interesting opportunity on this breakout of its trendline, the price is still moving around its EMA 200 and just on the S/R zone.
There is a possibility to see the price pullback one more time on the main trendline, and eventually I will see a proper rejection on that level, I'll start planning my short position on this trade!
My entry point would be the level at about 0.89050
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
🟢Forex Pair:
USD/CHF
⚪Technical Analysis:
Since the 6th of January 2021, the price has been following an interesting trendline, re-testing many times the strong S/R zone at about 0.89250, breaking it during the 1st of February with a really strong bullish upbar.
The bullish impulse lasted for few days, ending with a clear rejection on the level at about 0.90400 followed by a quick downtrend until the previous S/R zone.
The price is currently at the end of its short consolidation and it could re-test soon its main trendline.
🔴Conclusion:
I think that we could get an interesting opportunity on this breakout of its trendline, the price is still moving around its EMA 200 and just on the S/R zone.
There is a possibility to see the price pullback one more time on the main trendline, and eventually I will see a proper rejection on that level, I'll start planning my short position on this trade!
My entry point would be the level at about 0.89050
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
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