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USDCHF Price Action Analysis - 50.0% Fibo resistance level to be crossed for the bullish trend to be continuing

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by , 02-24-2016 at 10:47 AM (633 Views)
      
   
W1 price is located above 200 period SMA and 100 period SMA for the primary bullish with secondary ranging between Fibo support level at 0.9660 and Fibo resistance level at 1.0328. The price is breaking 50.0% Fibo resistance level at 0.9997 to above with the bullish triangle pattern was formed for the ascending trend to be continuing.

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If the price will break Fibo support level at 0.9660 so the reversal of the price movement from the primary bullish to the primary bearish market condition will be started.
If the price will break Fibo resistance level at 1.0328 from below to above so the primary bullish trend will be continuing with good possible breakout of the price movement.
If not so the price will be ranging within the levels.
Trend:


  • W1 - ranging bullish

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