The USD/CHF has formed a confluence signal ( red arrow with a circle) exactly at the close at 0.9755. We should see a continuation lower.
The pair is in a bearish trend. Rejections from the W H3 0.9754 should move the USD/CHF towards 0.9700. A move below and the target will be 0.9674. 0.9754-0.9770 is a strong resistance area. Only if the price moves above M H3 – 0.9770 we should see a potential for uptrend continuation and potential trend change. Below W H3 zone, the price is bearish.
The analysis has been done with the CAMMACD.Core System.
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The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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