#USDCHF remains in a larger trading range and the price is approaching the key highs. Could this offer short term trading opportunities?
Watch the video to learn more…
The USDCHF remains in a large trading range as the USD battles to find strength in the market. The Swiss Franc has weakened significantly allowing the USDCHF price to trade back towards the highs of the range. Fundamentally the USD could remain bullish this week as inflation data should see inflation rise once again.
Looking at the weekly time frame we can see the price is in an impulsive phase within the range which has caused the lower time frame of the 4hr to form an upward trend. The price has been bought on the recent 4hr retracements and we would expect the same to happen again. If the 4hr time frame can retest the previous swing highs or the supply zone below and form bullish price action we can look for long opportunities.
Have you seen our latest week ahead analysis? You can view it here.
Enjoy low spreads and quick trade executions with a live account. Our highly committed customer support team will assist you from your quick account setup to any future concerns. Start trading with Blueberry Markets today.