Overall view of USDCHF
0.98600 bottom level attempted to be broken after a sharp bear trend. Prices settled on a support zone and were subjected to a bull pressure. Odds of a bull trend continuation are high.
Possible targets : @1.0100 (+100pips) as the strong institutional level 1.0000 was already tested.
Advice : Stay bullish and buy at any low point while we don't break the support zone or 0.98601 bottom level.
Correlated pairs : USDJPY (89.6%), XTIUSD (88.5%), EURCHF (89.2%), XAUUSD (-87.9%).
We are more likely to experience a strong bull spike with the USDJPY, EURCHF and XTIUSD pairs. However a bullish trend on USDCHF may announce an incoming bearish trend of XAUUSD, actually settled on a resistance zone.
Possible targets : @1.0100 (+100pips) as the strong institutional level 1.0000 was already tested.
Advice : Stay bullish and buy at any low point while we don't break the support zone or 0.98601 bottom level.
Correlated pairs : USDJPY (89.6%), XTIUSD (88.5%), EURCHF (89.2%), XAUUSD (-87.9%).
We are more likely to experience a strong bull spike with the USDJPY, EURCHF and XTIUSD pairs. However a bullish trend on USDCHF may announce an incoming bearish trend of XAUUSD, actually settled on a resistance zone.
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After attempting to break the institutional level of 1.00000, market dipped down and broke the support zone.