$USDCHF Can Rise Soon #USDCHF

4 maj 2023

Traders and Investors,

USDCHF has completed a weekly M pattern as we approach the end of this week. Remember this is a weekly time frame pattern so may take days and weeks but we can expect USDCHF to rise upward because of the M pattern and trend line. This can impact EURUSD inversely and also can give strength to DXY (USDOLLAR) which in turn can impact all asset classes.

Last week (the last week of April) a rise in this gave strength to DXY. This can happen again. So beware of this potential bullish pattern.

DXY, on the other hand, has a possibility of W formation of a smaller time frame which can push the price up



There are also a few gaps left on DXY as below in the chart. Bearea that we have a potential double bottom and 100 psychological number. So the market may try to come down to collect liquidity below the double bottom and 100 number. But even in that case, the potential bullish W pattern will still be valid.



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-Vik

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📌 DISCLAIMER
The content of this analysis is subject to change at any time without notice and is provided for the sole purpose of education only.
Not financial advice or signal. Please make your own independent investment decisions.
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