USD/CHF: developing 'Flag' pattern

USD/CHF: developing 'Flag' pattern

Information is not investment advice

There's a 'Double Bottom', which has been confirmed, so the price is rising. However, it seems like we could have a bearish 'Flag' pattern under the Moving Averages. If so, bears are likely going to test the next support at 1.0031 - 1.0008 in the short term. The subsequent pullback from this level could lead to the beginning of an upward correction towards the nearest resistance at 1.0066 - 1.0091.

17-5-2019-CHF-H4.png

chf

Similar

Popular

GBP/JPY: trading on Brexit

What is the best way to bet on the positive outcome of the Brexit deal? Technically, the GBP has bullish potential versus the JPY.

Choose your payment system