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USD/CHF Potential Upward Movement

USD/CHF Long-Term Trend: Bullish

Key Resistance Levels: 0.9237, 0.9296, 0.9300

Key Support Levels: 0.9142, 0.9094, 0.9050

Daily Chart:

The price on the higher time frame is in a clear uptrend where it managed to break the daily resistances. Recently, it posted a correction count after facing a strong resistance around the 0.9237 USD mark. We believe that the correction is ended and its time for a new impulse to the upside.

USD/CHF Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame the price managed to break the bullish flag to the upside. We expect a correction count to the highlighted zone before a rally to the upside toward the mentioned target profit below.

Signal Idea:

Buy Limit Order @ 0.9175

TP 1 @ 0.9228

TP 2 @ 0.9237                

Stop Loss @ 0.9149

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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