USDCHF: Reverse Head and Shoulders pattern almost completed!
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🟢Forex Pair:
USD/CHF
⚪Technical Analysis:
Since December 2020, the price has been moving getting many rejections on a strong daily resistance zone at about 0.89200, creating a possible inverted head and shoulders pattern.
It is currently re-testing the same level and the next price action around that level will be essential to understand the next market movement.
🔴Conclusion:
The head and shoulders is usually a market reversal pattern, obviously it depends on the circumstance, so I'm confident to see the price getting an upcoming uptrend, breaking through the strong daily resistance zone.
I'll be waiting for a proper breakout before planning my long position.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
🟢Forex Pair:
USD/CHF
⚪Technical Analysis:
Since December 2020, the price has been moving getting many rejections on a strong daily resistance zone at about 0.89200, creating a possible inverted head and shoulders pattern.
It is currently re-testing the same level and the next price action around that level will be essential to understand the next market movement.
🔴Conclusion:
The head and shoulders is usually a market reversal pattern, obviously it depends on the circumstance, so I'm confident to see the price getting an upcoming uptrend, breaking through the strong daily resistance zone.
I'll be waiting for a proper breakout before planning my long position.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
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