USDCHF grow from support line

23 нояб. 2020 г.

We continue our previous forecast. The price just came to the support line.

In early November, the following occurred in succession:
- first, the price collapse.
- then its growth (just as strong and sharp).
During this growth, the price returned to the same position as before the collapse.
Namely - to the resistance line 0.918.
From the resistance line, the price fell to the support line.
This line has existed since the summer of 2020.

As you can see on the chart, although the line is not very long (it has been in existence for 5 months), it is strong enough to contain the price drop.
This is also evidenced by the fact that since November 18, the price does not fall below this line. She only makes small fixations (already two).
The amplitude of fluctuations after the last such consolidation is no more than 10 pips.
Therefore, I expect the price to rise. I expect it to return to the resistance line.
The target is 0.916.

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