Dollar A.S. / Franc SwissPenjualan
USDCHF
USDCHF Trade Idea
Price action on the h4 timeframe has been stuck within a wide range between 0.94000 and 1.03500
Current price action on the daily timeframe has been steadily bullish and has just broken above a daily resistance level around 0.99000
If we take a look at where price action is we can see it is consolidating in an ascending triangle , this could be an indication that a bullish push is iminent
Ideally we would like to see a break of resistance at 0.9987 with a retest, from there we can target our monthly resistance level around 1.0425 which would make for over a 400 pip trade
If price action falls from this region we will look for a retest of the daily support which will then be daily resistance and target toward our weekly support around 0.97085
Price action on the h4 timeframe has been stuck within a wide range between 0.94000 and 1.03500
Current price action on the daily timeframe has been steadily bullish and has just broken above a daily resistance level around 0.99000
If we take a look at where price action is we can see it is consolidating in an ascending triangle , this could be an indication that a bullish push is iminent
Ideally we would like to see a break of resistance at 0.9987 with a retest, from there we can target our monthly resistance level around 1.0425 which would make for over a 400 pip trade
If price action falls from this region we will look for a retest of the daily support which will then be daily resistance and target toward our weekly support around 0.97085
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