Chart Patterns: Flag On USD/CHF
JustForex | Mar 20, 2018 09:13AM ET
Yesterday the USD/CHF currency pair held the local resistance level of 0.95450, which caused the bearish sentiment. Technical analysis indicates a further correction of the trading instrument. At the moment, the classical figure of Flag (M30 timeframe) has been formed, which is a continuation form of the current trend. The round level 0.95000 is the key support. We recommend you to pay attention to this situation.
If the price fixes below the 0.95000 mark, you need to look for entry points to the market to open short positions. The immediate goal of fixing profits is the "mirror" support level of 0.94650. The movement is tending to 0.94400-0.94250. When tracking the position, we recommend using a trailing stop.
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