On the H2 chart of the USD/CHF pair, a potential simple correction may take place which forms inside the downward channel. At this time, to confirm the correction structure, the lower limit in the trend channel is crucial. If it is defended with a 100 percent Fibo expansion of at the level of 0.9657, it could be possible that the market may return towards the line drawn through the tops.
If, in turn, the lower limit in the channel is broken, then 161.8 percent expansion may become a potential target at 0.9543.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
If, in turn, the lower limit in the channel is broken, then 161.8 percent expansion may become a potential target at 0.9543.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.