USDCHF is showing signs of a structural shift as it breaks out of its recent descending trendline, which had previously capped several rally attempts. The pair successfully broke out of last week's trading range after surpassing the 0.79000 level (refer to the red box on the chart), and has since extended gains beyond the 100-hour moving average (marked by the blue line on the 4H time frame).
Technical Insight:
A confirmed 4H candle close above the key 0.80000 resistance level would validate bullish momentum.
If this breakout holds, we can expect the upward move to target the next resistance near 0.82150.
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Technical Insight:
A confirmed 4H candle close above the key 0.80000 resistance level would validate bullish momentum.
If this breakout holds, we can expect the upward move to target the next resistance near 0.82150.
If You like this idea if you have on Opinion about this analysis share in comments.
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✅My Free Signals
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✅Join my Telegram Channel
t.me/Trade_With_Kb1
t.me/addlist/UkeZgBhHMpowODA0
✅Join my Telegram Channel
t.me/Trade_With_Kb1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.