empty
 
 
10.11.2021 09:25 PM
USDCHF breaks out of bearish channel.

USDCHF has finally broken above the key resistance at 0.9150. After the fourth attempt, resistance at 0.9150, where we find the bearish channel boundary was broken. USDCHF continues to respect our key support and trend change level at 0.9080-0.91.

This image is no longer relevant

Blue lines- bearish channel

Orange line - support trend line

After three consecutive days where bulls tried to break the channel to the upside, bears could not withstand the strength of the bulls and price is breaking above the channel. This price action marks the end of the downward movement from 0.9365. Price has held the long-term orange trend line support. All signs indicate a trend change so we remain bullish USDCHF.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback