USDCHF Consolidating in a Narrow Bottleneck
The USDCHF pair is consolidating within an increasingly narrower bottleneck, as illustrated by the two trend lines. Moreover, the price action is contained within the boundaries of a broad range - the 61.8 per cent and 38.2 per cent Fibonacci retracement levels.
Given that the ADX has been threading below the 25-point benchmark since the 9th of July and the Stochastic RSI is near its overbought extreme, a reversal from the upper boundary of the range seems probable. The price action is likely to head towards one of the two moving averages - the 100-day MA (in blue) or the 200-day MA (in orange) - before it can test the ascending trend line (in green).
Given that the ADX has been threading below the 25-point benchmark since the 9th of July and the Stochastic RSI is near its overbought extreme, a reversal from the upper boundary of the range seems probable. The price action is likely to head towards one of the two moving averages - the 100-day MA (in blue) or the 200-day MA (in orange) - before it can test the ascending trend line (in green).
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.