Channelling the Swiss

Good Morning Dynamic Traders

Hope your all having a good week!!

Yesterday we got an understanding of what the CHF has been getting up to over the over recent weeks.
What I would like to do now is to go into more depth today on what the price has, could, and will be doing.

In the hour chart below you will notice that I have drawn 2 lines making a channel. This is because as price has been moving up and down it has stayed within these support/resistant lines. This could help with trying to work out where price could be heading next. You can see that I have also marked out a target area for price, which I found with the help from the RSI, which is above the 50 line and looking up and with the MACD’s buy signal.

I was intending to use the daily chart and go into more depth about the CHF and what could be happening, but I have decided to wait till tomorrow to see if price does hit the target area first.

Remember always do your own analysis!!

Happy Trading

Richard Monnery