Technical analysis of USD/CHF 10/03/2019

USD/CHF currency pair shows a downward correction within the upward channel on the 4H timeframe. At this point price is consolidating in the level of 0.9980, after a rebound from the upper border of the channel at the level of 1.0000.

Currently, there is reason to assume a downward correction within the channel to the level of 0.9890 (38.2% Fibo and MA200), after what the pair will resume growth above 1.0000.

Cancellation of the growth option for the pair after a downward correction will be a decrease below the level of 0.9840, what will indicate a breakdown of the lower boundary of the channel, as well as (50% Fibo), and could mean a possible change in the trend on the 4H timeframe.

USDCHF_STPH4

Created by Joshua Hayn

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