【FOREX】Since USD/CHF breaked of a support in Descending channel , The trend is switched to Uptrend . Forex Technical Analysis 2022/08/29

Daily Analysis

Today’s forecast of USD/CHF

Daily chart: Uptrend
4-hours chart: Range
1-hours chart: Uptrend

Overview

United Kingdom – Bank Holiday

USD/CHF was downtrend but has it changed Uptrend ?

USD/JPY started another increase above 137.10 resistance.

USD/CHF Daily Technical Analysis

Since USD/CHF breaked of a support in Descending channel , The trend is changed to Uptrend .

But There might be a strong resistance zone which is between 0.9700 to 0.9700.

POINT A strong resistance zone which is between 0.9700 to 0.9700.

USD/CHF 4-hour Technical Analysis

Looking at 4-hour chart,

A price moved on a ranging market which is between 0.9600 to 0.9670 last week.

Although a breakout happened below 0.9600 supports level , it was false breakout .

Therefore the price might exceed 0.9670 resistance level.

POINT Bullish candlestick with long tail was shown.

Trade ideas

After Bullish candlestick with long tail was shown , since it was tried to go over 0.9670 resistance level , wait for finding a chance of Buy the Dips.

Future strategy Buy the Dips
RizeFx
RizeFx

Find a change of Buy the Dips at 1-hour chart

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