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USD/CHF Potential Upward Movement

USD/CHF Long-Term Trend: Bullish

Key Resistance Levels: 0.93269, 0.93684, 0.94307.

Key Support Levels: 0.92537, 0.92178, 0.91942.

1-Hr Time Frame:

The price on the higher time frame the price posted a Wycoff accumulation phase which led to a change in the direction of the trend. A slight correction has been posted near the resistance zone where we expect a new bullish impulsive wave to the upside.

USD/CHF Medium-Term Trend: Bullish

15-Mins Time Frame:

On the lower time frame, the price succeeded to break the bullish flag to the upside after finding bulls near the 61.80% Fibonacci retracement level. A lower correction could be seen to the highlighted zone before a new wave toward the target profits.

Signal Idea:

Buy Limit Order @ 0.92590

TP 1 @ 0.93226

TP 2 @ 0.93684

Stop Loss @ 0.92305

Trade Safely 🙂

In many cases we manually use market orders instead of pending orders to trade the trading ideas we send you. This is higher risk, and you can decide if it suits your trading style.

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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