USDCHF Used Supply and Bullish Pattern

13 Nov 2015

The Supply Level on USDCHF shows its own weakness. So, watching the Chart, in the third test of the Supply level the price moved higher going out of the old used Supply level. It marked a new and larger Supply Level absorbing the old one on the monthly time frame.

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Definitely the Demand willing is dominating the Price Action.

On chart everything is properly described.

What do you expect for this currency?

Thank you

girolamoaloe.com

13 Nov 2015

Nota

Note

It is a very long-term chart. The expectation is that it could take out the supply and go up more. But If the price will get a strong reversal reaction in the supply, it could continue to follow the long-term bearish trend. It is just in the highest edge of the bearish channel, then It could retrace back to continue the bearish behavior for many months again.

In practice, if it stay bearish it will stay inside the range between the supply where it is now and the demand in the bottom, for a very long time. If it will take out the supply it will try to approach the highest supply in the chart.