USDCHF In A Bullish Channel, Remain Bullish
Buy above 0.9608. Stop loss at 0.9570. Take profit at 0.9712.
Reason for the trading strategy (technically):
USDCHF is being held in its bullish channel where we look to buy on weakness at 0.9608 (61.8% Fibonacci extension, 50% Fibonacci retracement) where we expect prices to rise to its resistance at 0.7124 (61.8% Fibonacci retracement, horizontal overlap resistance).
RSI (55) is being held up be a corresponding ascending support line which contributes to our bullish bias.
Reason for the trading strategy (technically):
USDCHF is being held in its bullish channel where we look to buy on weakness at 0.9608 (61.8% Fibonacci extension, 50% Fibonacci retracement) where we expect prices to rise to its resistance at 0.7124 (61.8% Fibonacci retracement, horizontal overlap resistance).
RSI (55) is being held up be a corresponding ascending support line which contributes to our bullish bias.