The USD/CHF pair initially fell during the course of the session on Monday, but found enough support near the 0.98 level to turn things back around and
The USD/CHF pair initially fell during the course of the session on Monday, but found enough support near the 0.98 level to turn things back around and form a bit of a hammer. The hammer of course is a very bullish sign, so having said that it’s only a matter time before he reach towards parity in our opinion. If we can break above the top of the hammer, we are buyers going forward. With that person selling, as the impulsive bullish move has been so strong and as a result we remain bullish.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
