USDCHF, Daily
In the Daily time frame, the USDCHF faced a crucial support zone at the 0.8900 level, aligned with the golden Fibonacci ratio. The 200-MA gives extra support for the asset, and the RSI oscillator shows a bullish hidden divergence with the asset, signaling a potential bullish momentum for the asset.
- If the price rebounds from the 0.8900 level, it will likely rise to the 0.9010 resistance.
- However, if the USDCHF breaches below the support zone, it may trigger a decline to 0.8780.
Conclusion
In conclusion, trading CFDs carries inherent risks. Success in this field demands effective risk management. To minimize costly errors and capitalize on trading opportunities, it's crucial to conduct thorough due diligence and manage risks diligently.
