USD/CHF Long-Term Trend: Bullish
Key Resistance Levels: 0.92240, 0.93710, 0.94000.
Key Support Levels: 0.91422, 0.90765, 0.90448.
The price on the higher time frame failed to break a strong support around the 0.90448 USD which led to a reversal and a move to the upside. In addition, the market succeeded to break the expanding wedge formation where after it we expect further movement to the upside.
USD/CHF Medium-Term Trend: Bullish
On the lower time frame, the price is traded inside a bullish channel formation where it found buyers near the 61.80% Fibonacci retracement level and a bullish engulfing pattern has been posted. A lower correction is expected to the highlighted zone before a new bullish impulsive wave.
Buy Limit Order @ 0.91722
TP 1 @ 0.92230
TP 2 @ 0.93710
Stop Loss @ 0.91551
Trade Safely 🙂