USDCHF Technical Analysis aims to provide you with the daily and weekly technical analysis of USDCHF currency pairs so you know the price levels you need to watch and what kind of trading action you need to take.
USDCHF Technical Analysis 4th-8th Dec 2017
If you look at the weekly chart of USDCHF below, you will see the following:
- price has hit a resistance zone and has moved down and now it is rallying up.
- note also the support zone where price came down temporarily and has rallied up and this indicates an uptrend at the moment until that structure is broken.
- should price continue to go up, the resistance zone will provide profit taking for the bulls that have bought way down below and it can also mean sellers may come in and may drive prices down which may present good opportunity for you to go short (sell).
On the daily chart of USDCHF shown below, you can see the following things much more clearly:
- price has bounced up form the support zone.
- unless the support zone is broken, the trend on the daily is up (bullish)