USDCHF- The pair looks to return above the 0.9566 level following its rally the past week. An eventual return above here will set the stage for a run at the 0.9600 level followed by the 0.9773 level, its weekly ema. Its weekly RSI is bullish and pointing higher supporting this view. However, a return below the 0.9352 level will annul its past week gains and pave the way for further downside towards the 0.9230 level and possibly the 0.9150 level. Further down, support cones in at the 0.9100 level and then the 0.9000 level. On the whole, the pair’s short term bullishness remains valid as long as it holds above the 0.9352/88 levels.
I think a buy order around 0.92 would give business as per my understanding of your analysis. If I am wrong, please correct me.
You may be right but the 0.9200 level must hold to warrant a buy order at that level if not further sell off will be the case.
I think two or more candlestick would give the confirmation signal. This is just where we need to have patience. Any decision should require 2/3 more candle…