USD/CHF Long-Term Trend: Bullish
Key Resistance Levels: 0.92585, 0.92649, 0.92712
Key Support Levels: 0.92084, 0.91911, 0.91709
We have seen a massive bullish cycle play out and are now trading slightly above a long term diagonal resistance line. I think long term we are likely to see stronger dollar as a result of this breakout, however, there needs to be a pullback before this move can proceed with strength.
USD/CHFMedium-Term Trend: Bearish
Elliot wave suggests that we may be seeing an abode cycle play out, meaning that we are due for a retracement before we see bullish continuation. We are also trading a resistance zone, which may aid in creating some bearish action.
Sell Market order @ 0.92572
TP 1 @ 0.92041
TP 2 @ 0.91707
Stop Loss @ 0.92857
Trade Safely 🙂