USD/CHF is trading with a neutral character. On the daily chart we can see a long downward trend of gradually increasing interest prevails. As previously predicted, the bulls have formed another correction, sliding the bears up to the level of 0.8861, where the price groped resistance and restore the original motion. Now, after a series of impulsive movements, bears reduced fervor, forming double-digit market battle. Development of the plot for the next trading days may be so- it’s possible we’ll see the ambiguity before passing mark 0.8800, where the market from time to time will join the bulls. If the price still be able to cross this mark with a growing interest in short positions , then we can assume further downward movement until preformed minimum 0.8698. Key resistance levels Zone is at 0.8900, 0.9000 and 0.9130 while support level are at 0.8800, 0.8700 and 0.8567 downside.
Trading Signals - Buy USD/CHF of recommended at a price above 0.8835 with the prospect of progress to the level of 0.8900.
Sale pair is recommended for less than 0.8800 with the prospect of running around to 0.8700.
I see a lot of traders pulling out numbers (0.8835, 0.8900, 0.8800, etc).
Is this your interpretation of the market or you have an indicator that draws a line or whatever at that price ? Thanks.
0.8835 - you could call it a recent level of interest. If you go down to hourly chart you will see this level has attracted price several times this week. At first it acted as resistance, then broke through, then became a support, then broke down again, tested it as a resistance again and then made a fakeout.