Hi traders, USDCHF shows some buying momentum on the H4 candle, after a break out of the falling short-term channel. The pair is now moving sideways, signalling the selling pressure decreased.
The pair is currently trading near a longer-term rising channel, and failed to break below the 61.8% Fib retracement. This could mean that the underlying uptrend may continue.
Note that on the daily chart, the pair is forming an inversed SHS pattern, with the current uptrend being the right shoulder of the pattern.
Join our Telegram channel to get updates on this setup: t.me/CommaFX
The pair is currently trading near a longer-term rising channel, and failed to break below the 61.8% Fib retracement. This could mean that the underlying uptrend may continue.
Note that on the daily chart, the pair is forming an inversed SHS pattern, with the current uptrend being the right shoulder of the pattern.
Join our Telegram channel to get updates on this setup: t.me/CommaFX
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