11.03.202219:55 Forex Analysis & Reviews: USD/CHF aims at 0.9360 higher high

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.

USD/CHF Strong Growth!

The USD/CHF pair extends its growth after jumping above the 0.9295 former high. You knew from my analyses that the currency pair could climb towards fresh new highs after escaping from the triangle pattern and if it jumps above the 0.9295 high.

As you can see, USD/CHF retested the broken downtrend line, the triangle's upside line confirming the breakout and potential upside continuation. The price ignored also the 0.9318 high which represented an upside obstacle.

USD/CHF Trading Conclusion!

The breakout above 0.9295 and through 0.9300 psychological level confirmed further growth and was seen as a good buying opportunity. The next upside target and obstacle is represented by the 0.9360 higher high. Ignoring this obstacle may announce further growth towards new highs.

A temporary retreat, decline, could help the buyers to catch a new upwards movement.

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.