Technical analysis for the USDCHF on 25.11.2015


The USDCHF has corrected to the lower border of the ascending channel at 1.0145


The second test of 1.0220 resistance triggered correction down. Potential target is situated at the lower border of the ascending channel – 1.0145.

The price approached this barrier amid low volumes, which indicates weakening bearish potential. Long consolidation above 1.0145 will most likely initiate the rebound up.

The main growth target is found at 1.0220 resistance. If the third attempt to break above this barrier turns out successful, medium-term bullish trend will continue with the target at 1.0300.

Alternative scenario:

Correction down will continue of price breaks and holds below 1.0120 support. The breakout will open the way to 1.0085, 1.0000.           


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Hello, my name is Artem. If you ask me “Why have you chosen Forex?”, I would quote a legendary bestseller “Trading for a Living” written by Alexander Elder – the greatest trader of all time: “You can be free. Live and work in any corner of the globe. You can set aside everyday troubles and be free from all bosses. This is the life of a successful trader”(a small step aside.) Now I will tell you a few words about myself: I have a two-year experience of Forex trading. I also have a trading certificate confirming that I have passed a course called “Theory and practice of international financial markets” held by a private consulting company. Currently, I’m trading in a foreign exchange market and reading books written by successful world traders. I believe only in technical analysis, as it is based on crowd psychology, while the crowd behavior is primitive.