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Farooq

Technical Analysis – USDCHF _ 12-02-2019

HomeTechnical AnalysisTechnical Analysis – USDCHF _ 12-02-2019
12
Feb
Technical Analysis – USDCHF _ 12-02-2019

Yesterday, the pair rose again from its first target at 1.0060 after receiving support from the 1.0000 – 0.9990 area which corresponds to the ascending trend line shown on the chart.

The possible bullish scenario remains intact as long as the trades remain above the mentioned trend line to remain the next key target around 1.0125 resistance (second scenario target) …

A breach of the 4-hour uptrend line below 0.9960 might be enough to end the bullish scenario and the price could then target the support level of 0.9905 as the first target and then 0.9850 as the second target


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