USDCHF analysis

USDCHF analysis

#USDCHF has been trending upwards since the mid-Nov.

I plotted the up-ward channel on Chart 1.

1) This hi-vol bar I would interpret as the SLKT into the overbought area and above round number 1.0
2) This high-volume could be caused by mass closing positions before weekend.

What does the last bar tell us?

This could be a Shake-out bar in order to stress people, make them think about bearish reversal. Look, in mid-term, price has not break-down the center line of bullish channel. Rally could be resume after buyers left the market without losses. Market is not designed to make profits for people (Chart 2). Price already hit SLs of buyers which were ‘hidden” under Thursday-Friday lows. Now price can easily reverse up in order to let no them make profits after bouncing up from center-line.

0.996 is the major support.

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