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USD/CHF Potential Upward Movement

USD/CHF Long-Term Trend: Bullish

Key Resistance Levels: 0.92240, 0.92654, 0.93000.

Key Support Levels: 0.91639, 0.91182, 0.91100.

Daily Chart:

The price on the higher time frame found support around the 0.91182 USD mark by posting higher low. This led to a move higher and we expect a further movement to the upside toward the next key resistance around the 0.92240 USD.

USD/CHF Medium-Term Trend: Bullish

4-Hour Chart:

On the lower time frame, the price managed to break the bullish flag formation to the upside with the help of a bullish head and shoulders. A lower correction could be seen to the highlighted zone before a new Impulsive wave toward the target profit.

Signal Idea:

Buy Limit Order @ 0.91655

TP 1 @ 0.92226

TP 2 @ 0.92654

Stop Loss @ 0.91469

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.

4 comments

  1. Seeing a Bull Pennant starting at the start of Aug, so this looks good for a quick impluse once it starts… hopefully going north to our TP’s ;o). Volume typically spiking at 13:00 UTC, and number of announcements due out in next few hours.

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