USDCHF is at a support trendline thats been consistent since May 2014. RSI is bouncing off of 31. MACD is positively converging and close to crossing over, a crossover could be potential confirmation. Stochastics are oversold and uptrending, were looking for a breakout above the oversold level. One concern is that weekly ADX uptrending on price actions downtrend and currently at 20, anything over 25 is considered a strong trend so that is something to watch for. Positive US Non Farm Payroll data could push this high. I could see it consolidating this week until data on Thursday. Also worth noting that the 100-d MA is converging towards the 200-d and close to bearishly crossing over.
Commentaire:
A support trend zone* not just the line