Forex Signals

USDCHF Intraday Upward Breakout


The USDCHF pair in its 2-hour chart shows an intraday upward breakout, which leads us to expect a short-term rally.

The price action unveils a bullish reaction from the June 11th low at 0.9376, from where the price fueled raising until 0.9553 in three internal moves. 


The breakout observed in the Tuesday 16th trading session, and confirmed by the RSI oscillator carries us to expect a new upward leg as a wave (c) developed in five internal segments. This potential ascending move could boost to USDCHF until 0.9603 in where the pair could complete its third leg.

The invalidation level of this upward scenario locates at 0.9437.


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By Eduardo Vargas

Eduardo Vargas is a technical analyst and independent trader based in Buenos Aires, Argentina. He is an Industrial Engineer and holds a Master in Finance degree. In 2008 began to trade Chilean stocks listed on IPSA. From 2013 started to trade CFDs on Forex, Commodities, Indices and ETFs markets. He analyses different markets combining the Elliott Wave analysis with Fibonacci tools. He provides a market mid-long-term vision.

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