USDCHF attacks the neckline – Analysis - 03-10-2017

The USDCHF pair rallies upwards to start the attempts to breach the neckline of the double bottom pattern that appears on chart, which supports the continuation of the bullish trend scenario in the upcoming period, noting that confirming the breach will push the price to head towards 0.9900 followed by 1.0030 as next main stations.

Therefore, we will continue to suggest the bullish trend on the short term basis supported by the EMA50, noting that the continuation of the expected rise depends on holding above 0.9685.

Expected trading range for today is between 0.9700 support and 0.9864 resistance.

Expected trend for today: Bullish