USD/CHF: 1-hour
Higher price lows and lower stochastic lows… Why, that’s a bullish divergence right there! USD/CHF might bounce from the middle of the ascending channel on its 1-hour forex chart and head back to the top near the .9700 major psychological resistance if this divergence plays out. Price also seems to be drawing support from the 100 SMA, which is currently above the 200 SMA and indicating that the uptrend is likely to stay intact. If dollar bulls aren’t quite ready to charge yet, the pair could still retreat to the 200 SMA support or the bottom of the channel near the .9500 major psychological level before resuming its climb. If you’re really bullish on this one, you might wanna consider scaling in.
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