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USD/CHF Potential Upward Movement

USD/CHF Long-Term Trend: Bullish

Key Resistance Levels: 0.92431, 0.92570, 0.92650.

Key Support Levels: 0.91715, 0.91516, 0.91153.

Daily Time Frame:

The price on the higher time frame posted an engulfing bullish pattern near the strong support level around 0.91200 CHF mark and reversed to the upside. In addition, it succeeded to break the resistance level around the 0.91800 CHF mark which could lead to further movement to the upside.

USD/CHF Medium-Term Trend: Bullish

1-Hr Time Frame:

On the lower time frame, the price succeeded to break the bullish flag formation to the upside after finding buyers near the support level. A lower correction could be seen before a new bullish impulsive wave toward the target profits.

Buy Limit Order @ 0.91794

TP 1 @ 0.92421

TP 2 @ 0.92570

Stop Loss @ 0.91481

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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