USDCHF has been a quiet pair but looking at the DAILY and WEEKLY Timeframes, it formed an ascending triangle. Prices reached down to 0.91000 and 0.91500 levels before increasing volume - indicating interest - drove price back up. A strong supply zone of the WEEKLY timeframe act as the upper base of the ascending triangle (around 0.94000). Price rallied from 0.92000 heading towards this supply zone expecting a RALLY - BASE - DROP towards the same 0.92000 level.
This level is in confluence with:
1) The ascending triangle
2) Psychological support around a round number (0.92000)
3) Wyckoff's Volume Analysis (demand zone).
This level is in confluence with:
1) The ascending triangle
2) Psychological support around a round number (0.92000)
3) Wyckoff's Volume Analysis (demand zone).