Daily Forex Technicals | Written by Autochartist | Feb 18 13 02:38 GMT
Daily Forex Update: USD/CHF
USD/CHF to rise to the target level 0.9391 in the next 5 trading days. The target level for this bullish forecast (point B on the chart below) corresponds to the previous downward reversal point of the upper trendline of the daily Down Channel identified earlier by Autochartist (which is still in the process of forming). The stop level for this upward price move is set at 0.90215, which is the last reversal point of the lower support trendline of the aforementioned Down Channel - shown in full on the second chart below.
The following chart shows the daily Down Channel which is the basis of the above trade opportunity alert. Both the Uniformity and Clarity of this chart pattern are rated at the above-average 6 bar level - which reflects the well-formed chart pattern with high visibility to the market participants. Higher visibility of this Down Channel adds to the likelihood the pair will reach the target level 0.9391 in the next 5 trading days.
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