ElysiumFX

USDCHF - Ready to reverse?

FX:USDCHF   U.S. Dollar/Swiss Franc
107 0 1
USDCHF             has fallen to an area of support on the weekly chart, the 38% retracement of the 2011 lows/2012 highs, that could provide a bounce higher for the pair. Risk is well-defined: the channel bottom coincides with the .88 level, which is ~70 pips away, and should provide strong support in the case of a spike lower. Adding to the possibility of a reversal is that the US dollar index             , DXY             , is at a key area of support around the 79.90 area on the daily chart ..

Going long USDCHF             near current levels with a stop below .88, initial target of .92 and longer-term target up near the channel top, offers great risk/reward. Remember, though, that this is on a weekly basis so the trade is long-term in scope.
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out