USD/CHF 1H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
For some time now pair has been trading in a 0.940-0.950 cent range and is likely to continue doing so in the short term. It should hit pattern's support and, as indicated by the medium term technicals, bounce from it. In the long term, however, pair seems to be likely to return trading sideways. Range trading, both in the short and the long term, seems very likely due to the dynamics in the market sentiment. Both distributions, of the currently open positions and pending orders, are close to 50/50 ratio. It does not give any advantage nor to the market bulls nor to the bears. 

© Dukascopy Bank SA
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Mon, 01 Jul 2013 08:13:04 GMT

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