Forex

USD/CHF Downtrend targeting 0.9763

November 23, 2017

1 min read

tarantula fx

Head of Trading

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The USD/CHF has been moving pretty slow making only 33 pips during slow holiday market volatility. Almost every pair is trapped in a range bound market price action due to Thanksgiving Holiday in the US.

The lack of continuation from 1-2-3 pattern breakout suggests a possible move to the upside in the form of a retracement. At this point, the price is rejecting D L3 camarilla pivot but we could see the POC zone if the price continues with a retracement. 0.9845-55 is the POC zone and the rejection (if the price stays below 0.9880) should target 0.9791 and 0.9763. However, due to lack of US traders during the holiday, the price action will remain slower than usual.

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