USD/CHF 4H Chart: Stranded between SMAs - Trade Pattern Ideas - Dukascopy Bank
Thu, 20 Dec 2018 06:45:30 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Sell
Sell
Buy
RSI (14)
Neutral
Neutral
Neutral
Stochastic (5; 3)
Neutral
Neutral
Neutral
Alligator (13; 8; 5)
Neutral
Sell
Buy
SAR (0.02; 0.2)
Buy
Buy
Sell
Aggregate
⇒
⇒
⇒
The USD/CHF currency pair has been trading in a descending channel pattern during the past six-week. During this period, the pair re-tested the upper boundary of the descending channel pattern.
The exchange rate was stranded between SMAs during the morning hours of Thursday's trading session. The 100-hour simple moving average at 0.9947 was providing resistance, while the 50-hour SMA was providing support at 0.9928.
Technical indicators favour bullish signals. Therefore, a potential upside breakout is likely to occur during the following trading days.
However, the 200-hour SMA could hinder the currency exchange rate from surging.
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