USDCHF completes positive pattern – Analysis - 10-02-2017

The USDCHF pair rallied bullishly yesterday to breach 0.9996 and settles above it, which pushes the price to turn its intraday and short term track upwards, paving the way to regain the main bullish trend that was stopped for the bearish correction that its dimensions appear on chart.

By taking a deeper look at the chart, we find that the price completed forming inverted head and shoulders' pattern, which forms positive factor that reinforces the expectations of continuing the rise in the upcoming sessions, to suggest the bullish trend on the intraday and short term basis, waiting to target 1.0128 levels mainly, noting that holding above 0.9996 represents key condition to continue the positive overview.

Expected trading range for today is between 0.9960 support and 1.0100 resistance.

Expected trend for today: Bullish