Fxprotrader

USDCHF Median Line Acts as Support, We Watch for Longs

Long
FX:USDCHF   U.S. Dollar / Swiss Franc
After breaking above the median line, price took some time but now has retraced very close to it, testing a slidely parallel just above median line. Looking left we may see previous structure and that price found good resistance twice. At current level we see that price is making a base a sign that this downmove may have come to an end. Watch for a buy setup at a lower timeframe based on your strategy and go long aiming at least the upper quartile of the set.
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