RLinda ! USDCHF-> Formation of a bullish pattern. What's next?
USDCHF is in an uptrend. The price is trading in the price channel. Potentially, the price can continue its growth.
If we pay attention to the global chart, we can see how the price continues to be pushed up and after a false breakdown of the channel we do not see a fall. There is a suggestion that the price may break the upper boundary in the near future.
On the local chart, we see the formation of the pattern "pennant", which implies the continuation of the trend. I expect that in the near future the price will exit the resistance of the pattern and increase to the resistance of the range. The short-term target is 1.0049 area.
Regards R.Linda!
If we pay attention to the global chart, we can see how the price continues to be pushed up and after a false breakdown of the channel we do not see a fall. There is a suggestion that the price may break the upper boundary in the near future.
On the local chart, we see the formation of the pattern "pennant", which implies the continuation of the trend. I expect that in the near future the price will exit the resistance of the pattern and increase to the resistance of the range. The short-term target is 1.0049 area.
Regards R.Linda!
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