USDCHF In A Bullish Channel, Remain Bullish
Buy above 0.9608. Stop loss at 0.9570. Take profit at 0.9712.
Reason for the trading strategy (technically):
USDCHF is being held in its bullish channel where we look to buy on weakness at 0.9608 (61.8% Fibonacci extension, 50% Fibonacci retracement) where we expect prices to rise to its resistance at 0.7124 (61.8% Fibonacci retracement, horizontal overlap resistance).
RSI (55) is being held up be a corresponding ascending support line which contributes to our bullish bias.
Reason for the trading strategy (technically):
USDCHF is being held in its bullish channel where we look to buy on weakness at 0.9608 (61.8% Fibonacci extension, 50% Fibonacci retracement) where we expect prices to rise to its resistance at 0.7124 (61.8% Fibonacci retracement, horizontal overlap resistance).
RSI (55) is being held up be a corresponding ascending support line which contributes to our bullish bias.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.