• Vasily Trader

USDCHF: Technical Outlook & The Things to Watch

Hey traders,

Because we got Labor Day in the US today,

we do not expect the market to be volatile.

Here is my mid-term technical outlook on USDCHF for you to follow:

From the beginning of summer, the pair is ranging.

0.8925 - 0.8935 is its support.

0.9265 - 0.9275 is its resistance.

Within that range, the price formed one more range.

Since August, the pair is trading within 0.901 - 0.925 area.

I spotted bearish accumulation signs recently.

With the sequence of lower highs and equal lows, the pair formed a descending triangle .

Look for its support breakout as your signal to sell.

Goals will be: 0.901 (August's low) / 0.8935 (Summer's low)

Alternatively, consider the boundaries of summer's range for buying/selling.