USD/CHF:
Date: 17 October, 2016
H4 Graph: Long Trend
The price in this pair has been going up and respects the trend line below it. After a correction price always stops above it and it continue upward movement. Now after the last correction down to 0,98540 price again went up. We will wait to see break of the previous high and after retest, we may seek a places for a long trend. Higher highs and higher lows - Long Trend.
Fundamental: The US dollar continue to raise, due to the expectations of higher rates in the USA. If there will be a country that will raise rates that would be the USA, but this is still not the fact.
Alternative Scenario: if the price does not break up above the last high as we expect, and instead turns lower and move below the diagonal support and the level of 0,98500, this will cancel the bullish scenario.
Technical Indicator:
DEM (14): In the vicinity of the oversold zone, but still has not turned up for long
Цена за Вход лонг: Only after a break of the last high at 0.99100 and retest of that level
SL: 0.98400
Jr. Trader - S. Fuchedzhiev
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