USDCHF is showing persistent weakness for more than 6 weeks now. However, it seems like the weakness is about to end.
0.9660 area has proved to be a decent demand area for a couple of weeks now which means this area is certainly keeping buyers interested.
But, sellers are also lurking in the 0.9730-0.9750 zone.
At this point, I believe we need some catalysts to push the price out of this consolidation zone.
Either way 0.9650-0.9670 is critical for buyers.
I will definitely look to buy into this market as it offers a low-risk set-up provided I see some signs of major buyers stepping in.
Alternatively, a clear break of the consolidation zone will see this market fall back to the next meaningful demand area at 0.9500
DISCLAIMER: This is merely a trading set-up. Whether I execute this trade will depend on many factors. I will update in my channel if I decide to take this trade.
0.9660 area has proved to be a decent demand area for a couple of weeks now which means this area is certainly keeping buyers interested.
But, sellers are also lurking in the 0.9730-0.9750 zone.
At this point, I believe we need some catalysts to push the price out of this consolidation zone.
Either way 0.9650-0.9670 is critical for buyers.
I will definitely look to buy into this market as it offers a low-risk set-up provided I see some signs of major buyers stepping in.
Alternatively, a clear break of the consolidation zone will see this market fall back to the next meaningful demand area at 0.9500
DISCLAIMER: This is merely a trading set-up. Whether I execute this trade will depend on many factors. I will update in my channel if I decide to take this trade.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.