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USD/CHF Potential Upward Movement

USD/CHF Long-Term Trend: Bullish

Key Resistance Levels: 0.9044, 0.9087, 0.9160

Key Support Levels: 0.8992, 0.8919, 0.8850

Daily Chart:

The price on the higher time frame is posting lower lows and highs indicating that we are in a clear downtrend movement. After a huge selloff we should expect a correction count and this is what we are trading now.

USD/CHF Medium-Term Trend: Bullish

1-hour Chart:

On the lower time frame, we are trading inside a bearish channel formation where the price posted an inverse head and shoulders signaling a potential of reversal. We are trading above the neckline of this pattern, we might see a breakout of this channel and a move toward the target profit.

Signal Idea:

Buy Market Order @ 0.9017

TP 1 @ 0.9043

TP 2 @ 0.9087

Stop Loss @ 0.9004

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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