It has been
more than month since the USD/CHF broke the 200 period Exponential Moving
Average on the weekly chart to the upside, around the 0.9403 level. Since the
breakout, the pair has come back to the same moving average where it has found
a good support during this week and it is about to close the week to the
upside. We can clearly see that a breakout and pullback pattern has been
completed around the 200 Week EMA and this could be an indication that during
the following weeks the pair could continue going higher, especially if the
FOMC statement for next week points out to a possible rate hike by the FED
towards the middle or third quarter of next year.
Useful information! Thanks.
ReplyDeleteThank you for the excellent analysis!
ReplyDeleteI agree with the analysis, excellent point of view.
ReplyDeleteThere might be a potential breakout next week above 0.9600.
ReplyDeletelet's see how the price will react next week.
ReplyDeleteGreat assessment. I'll keep a close eye on it.
ReplyDeleteLet's see the bulls continue.
ReplyDelete