USD/CHF: are we witnessing a trend change or a fake breakout?
Looking at the Weekly-timeframe development on USDCHF, it can be examined that the current Weekly candle has broken above the previous Lower Low region lining up with the descending trend-line connecting three Lower High tops.
If the Weekly candle manages to close above the penetrated resistance level, we will look into going long and aiming for the upside.
On the other hand, if a massive wick candle is printed and the price closes below the same resistance zone, our bias will remain bearish.
All in all, let's observe how the price develops and derive logical conclusions based on that.
If the Weekly candle manages to close above the penetrated resistance level, we will look into going long and aiming for the upside.
On the other hand, if a massive wick candle is printed and the price closes below the same resistance zone, our bias will remain bearish.
All in all, let's observe how the price develops and derive logical conclusions based on that.
