FxWirePro
Long

USD/CHF bulls on verge of hitting 6-months highs

FX:USDCHF   U.S. Dollar/Swiss Franc
74 0 4
USD/CHF bulls on verge of hitting 6-months high, leading oscillators to substantiate bullish MA crossover – Digital calls for leverage:

On daily charts , further upswings seem to be most likely upon break-out above resistance of 0.9953.

More upswings likely to extend up to neckline at 0.9823 on sustenance above this resistance as 7DMA crosses over 21DMA while current price spikes above DMAs.

Leading oscillators ( RSI and stochastic ) on daily terms indicate gaining strength in buying interests as they have been converging with the rising prices. RSI evidences the bullish convergence to the prevailing upswings.

Whereas the stochastic curves are popping up with the same bullish views to the RSI as it evidences %K crossover to signal intensified buying momentum. While MACD hints at prolonged upswings on the same timeframe ( EOD             basis).

On a broader perspective, bulls attempting to hit 6-months highs at 0.9956, but the major trend has been puzzling.

More evidently, you could precisely observe price turbulence from last 2 years (see the rectangular area on monthly plotting).

The Swiss National Bank today has maintained its benchmark interest rate unchanged at record-low levels of -0.75%. The Swiss central bank also added that it would remain lively in the foreign exchange market, as necessary.

Hence, the overall major trend still seems to be puzzling despite the momentary gains are foreseen upon break out above mentioned pivot points .

Trade Tips:

On intraday speculative perspectives, it is good to buy one touch binary calls at every dip that brings in leveraging effect in bull swings, using these instruments with upper strikes for minimum targets of 30-35 pips one can achieve exponential returns rather than spot FX.

The payoff of touch option has been conditional, if USDCHF             , in this case, would touch the OTM strike price within any time period by the time of expiration, if the investor predicts correctly and the asset touches the strike price the option expires "in the money". This is likely to generate an exponentially high return of between 80-90% to the binary option investor.
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