In Week 13, we expected the pair to make a Trend Reset and have an outlook of neutral/bearish. However, in Week 14, the pair made a sharp rise and moved to a bullish level 3 zone.
Personally, I did not engage USDCHF in week 14, because I am unsure of the general trend, so even if I take a side, I might not be able to have a reasonable conclusion of the pair.
USDCHF did not make much of a move even though it went on to create a bullish level 3. Traders shorting the pair might incur some losses and traders who long the pair would be able to net some profit with some big swing at bullish level 3 zone.
From the analysis, it seems like a reversal pattern has been formed with a double top lying in the bullish level 3 zone. I will be looking out for a short opportunity in Week 15.
I hope all traders will continue to have a profitable week. Please like and follow if my analysis helped you!
Personally, I did not engage USDCHF in week 14, because I am unsure of the general trend, so even if I take a side, I might not be able to have a reasonable conclusion of the pair.
USDCHF did not make much of a move even though it went on to create a bullish level 3. Traders shorting the pair might incur some losses and traders who long the pair would be able to net some profit with some big swing at bullish level 3 zone.
From the analysis, it seems like a reversal pattern has been formed with a double top lying in the bullish level 3 zone. I will be looking out for a short opportunity in Week 15.
I hope all traders will continue to have a profitable week. Please like and follow if my analysis helped you!
