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USD/CHF Potential Upward Movement

USD/CHF Long-Term Trend: Bullish

Key Resistance Levels: 0.93779, 0.94264, 0.95251.

Key Support Levels: 0.92336, 0.91925, 0.91900.

Daily Chart:

The price on the higher time frame found support around the 0.92336 CHF mark where the pair reversed and moved higher toward the key level. Long wicks to the downside has been seen showing that the buyers are coming back to the market and this could lead to further move to the upside.

USD/CHF Medium-Term Trend: Bullish

4-Hour Chart:

On the lower time frame, the pair showed higher lows near the 61.80 % Fibonacci retracement level that coincide with a strong support. We could see the market rallying in the coming hours toward the 0.93744 CHF mark where we will execute a buy limit order near the daily support mark.

Signal Idea:

Buy Limit Order @ 0.92363

TP 1 @ 0.93744

TP 2 @ 0.94264

Stop Loss @ 0.91960

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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