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Currency
by Seth Parker on October 26, 2018

USDCHF Analysis – Nice buy signal!

In the second analysis we will stay on the USD but we add the Swiss friend – CHF. USDCHF was previously analysed on our portal on the 26th of September, so exactly one month ago and back in that day we were quite optimistic about the future of this pair:

“On Monday, USDCHF continued the reversal and today we are knocking on the upper line of the channel down formation having quite big chances for a breakout. Price closing a day near the check sign, above the yellow area, will be an invitation to buy. In my opinion, chances for that are quite high. „

usdchf chart

Well, well, well, that analysis was awesome! The price indeed closed above all those resistances triggering a buy signal. Since that, we do have a bullish march which most probably, will end with the new long-term highs. Most recently, the price broke the horizontal resistance on the 0.998 (orange) and later used that as a support. That is a buy signal and a confirmation in the same time. The positive sentiment is here and I am certain that soon we will see 1 in front here.

By Seth Parker

Seth is a professional trader with over 10 years of experience. He specializes in the technical analysis. His main focus is on the pure Price Action. In his trading, Seth used the trends, supports and resistances and technical formations. Always, the most important thing in his strategy is the money management. Seth reached a proficiency in trading and for the past three years is doing that for a living enjoying the sun and lovely beaches of the Spanish coast.

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