01.10.202407:26 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of USD/CHF Main Currency Pairs, Tuesday October 01, 2024.

Relevance up to 01:00 2024-10-02 UTC--4

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

If we look at the 60-minute chart of the main currency pair USD/CHF, we can see some interesting information that appears, first, the detection of a deviation between the price movement of USD/CHF and the RSI(5) indicator, second, the appearance of a Bullish 123 pattern followed by several Bullish Ross Hook (RH), and third, the appearance of a Bullish Pitchfork so that based on these three facts, USD/CHF in the near future has the potential and opportunity to strengthen upwards where the level of 0.8465 will be tested to be penetrated upwards if this level is successfully broken then USD/CHF has the opportunity to continue its strengthening to the level of 0.8493 as its main target and if the momentum and volatility support it then USD/CHF will head to the level of 0.8493 and/or its Middle Pitchfork Line but all of these strengthening scenarios will be invalid and canceled by themselves if suddenly USD/CHF weakens and breaks below the level of 0.8430.

(Disclaimer)

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.