USDCHF Forecast: Bullish run stalled, inside bar suggests a consolidation
USDCHF Forecast: Bullish run stalled, inside bar suggests a consolidation
The USDCHF was indecisive yesterday. Overall price is still in a bullish phase but we have an inside bar formation as you can see on my daily chart below suggests a consolidation phase which need a break above or below the “mother bar” to see clearer direction. I prefer a bullish scenario at this phase as the inside bar is also a bullish pin bar but we have to wait for a break above 1.0230 to confirm this bullish scenario targeting 1.0250 even 1.0340 region (December 2016 and January 2017 highs, a tweezer top formation). On the other hand, a break below the “mother bar” (1.0150) would trigger a downside correction towards 1.0095 or lower. Overall I remain neutral on this pair.
Source: https://fxinstructor.com/blog/usdchf-forecast-bullish-run-stalled-inside-bar-suggests-a-consolidation
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