USDCHF - Ready to reverse?
USDCHF has fallen to an area of support on the weekly chart, the 38% retracement of the 2011 lows/2012 highs, that could provide a bounce higher for the pair. Risk is well-defined: the channel bottom coincides with the .88 level, which is ~70 pips away, and should provide strong support in the case of a spike lower. Adding to the possibility of a reversal is that the US dollar index, DXY, is at a key area of support around the 79.90 area on the daily chart..
Going long USDCHF near current levels with a stop below .88, initial target of .92 and longer-term target up near the channel top, offers great risk/reward. Remember, though, that this is on a weekly basis so the trade is long-term in scope.
Going long USDCHF near current levels with a stop below .88, initial target of .92 and longer-term target up near the channel top, offers great risk/reward. Remember, though, that this is on a weekly basis so the trade is long-term in scope.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.