USD/CHF Technicals: likely to leave a higher low

Daily chart

USDCHF D1 (07-13-2017 1751).png

Previous day’s candle has a big lower shadow… today’s candle has a long lower shadow as well. The price action suggests dip demand and indicates the spot is likely to leave a higher low around 0.96 and move higher to 0.9715-0.9720 (confluence of trend lines). A daily close above 0.9720 would signal the spot has bottomed out.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s