TREND ANALYSIS OF THE USDCHF FOR 12/07/24
On the 4-hour chart:
The pair increased to the level 0.9938 after the rebound from the line 1. Later the pair arrived below the line 2 and remained to move along it. The Moving Averages show the remaining of the upward trend.
On the 1-hour chart:
The pair started the day with the rebound from the resistance line 1. After that the dynamics developed between the resistance line and the support level 0.9893. The price rebounded from the resistance line 1 to the moment. The Moving Averages show the slowdown of the increase.
On the 15-minute chart:
The pair fluctuated in flat from the beginning of the day. The price rebounded from the resistance line1 and started the decrease to the moment. If the tendency could remain the support level of the tendency will be broken. If the level could not be broken the flat dynamics will continue. The signal of the trend remaining will be a break through the level 0.9938
By MasterForex Company