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MEX_Exchange

USDCHF approaching major support, prepare to buy

Long
U.S. Dollar / Swiss Franc (FX:USDCHF)  
MEX_Exchange  
FX:USDCHF   U.S. Dollar / Swiss Franc
Trend Analysis Harmonic Patterns Chart Patterns USDCHF USD chf usdchfanalysis usdchfshort usdchflong usdchfidea Forex forextrading
5
0
trendanalysis harmonicpatterns chartpattern usdchf usd chf usdchfanalysis usdchfshort usdchflong usdchfidea forex forextrading
Buy above 0.9593. Stop loss at 0.9560. Take profit at 0.9671.
Reason for the trading strategy (technically):
Price is approaching major support at 0.9593 (Fibonacci retracement, Fibonacci extension, horizontal swing low support) and we intend to see a nice bounce above this level for a push up to at least 0.9671 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (21,5,3) is seeing strong support above 12% where we expect a bounce from.
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