USD/CHF Long-Term Trend: Bullish
Key Resistance Levels: 0.92600, 0.92719, 0.92783
Key Support Levels: 0.92242, 0.92168, 0.92118
Looks like we have a nice bullish channel built up, and if price respects the structure, we may get another bounce and bullish continuation. Additionally, we have an Elliot wave count suggesting we are playing a 3rd wave that should take us to the 0.92970 level for completion. If this short-term pullback continues things may get interesting.
USD/CHFMedium-Term Trend: Bullish
We seem to be making somewhat of an abcde play to complete the larger cycle (3)rd wave. If this structure holds, we are likely to see a bounce off of the support channel line. We have US CPI today and a budget statement.
Buy Limit Order @ 0.92250
TP 1 @ 0.92600
TP 2 @ 0.92964
Stop Loss @ 0.92012
Trade Safely 🙂