Technical analysis of USD/CHF 10/24/2019

USD/CHF currency pair shows an upward correction within the frames of the emerging downward channel on the 4H timeframe. At this point, there is reason to assume that the upward correction will continue to the zone 0.9930-0.9950 (MA100, MA200 is the upper border of the channel), after what quotes reduction will renewal within the channel with a target below 0.9850.

Cancellation of the reduction option after correction will be a pair growth above 1.0000, what will indicate a breakdown of the upper boundary of the channel, as well as MA100 and MA200, and could mean a possible change in the trend on the 4H timeframe.

USDCHF_STPH4

Created by Joshua Hayn

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