USDCHF Approaching Strong Support, Prepare For A Bounce
Buy above 0.9888. Stop loss at 0.9857. Take profit at 0.9949.
Reason for the trading strategy (technically):
USDCHF is fast approaching major support at 0.9888 (Fibonacci retracement, horizontal pullback support) and a strong bounce could occur at this level to push prices all the way up to our profit target level of 0.9949 (Fibonacci retracement, breakout level).
Stochastic (34,5,3) is seeing strong support above 7.3% where a corresponding bounce could occur.
Reason for the trading strategy (technically):
USDCHF is fast approaching major support at 0.9888 (Fibonacci retracement, horizontal pullback support) and a strong bounce could occur at this level to push prices all the way up to our profit target level of 0.9949 (Fibonacci retracement, breakout level).
Stochastic (34,5,3) is seeing strong support above 7.3% where a corresponding bounce could occur.