USD/CHF to extend bullish trend, buying dips targets 40-45 pips
It has been a strong uptrend for dollar against Swiss franc for last one month or so.
These upswings are in conformity with volumes actions.
Today the pair has been able to bounce above to touch resistance 1.0232 levels but rejected above channel line at the same levels.
Currently, it is jumping to clear that resistance with rising volumes.
The spot prices on weekly chart have bounced way above 10DMA curve, this would signal us that the prevailing bullish trend to sustain further for some more weeks.
While RSI has been converging these price spikes, the current RSI on weekly chart is trending at 66.0354.
To confirm this bullish view, slow stochastic curves has approached above 80 levels but no trace of clear %D crossover which is again good signs for bulls.
On daily terms, despite the robust bullish sentiments, there has been a tug war between bulls and bears, but bears have been well leading the show as there are adverse indications.
However, this disparity could be interpreted as bears are generating good opportunities again. So buying one touch delta calls at every dips would be the trading idea for the day targets about 40-45 pips.
These upswings are in conformity with volumes actions.
Today the pair has been able to bounce above to touch resistance 1.0232 levels but rejected above channel line at the same levels.
Currently, it is jumping to clear that resistance with rising volumes.
The spot prices on weekly chart have bounced way above 10DMA curve, this would signal us that the prevailing bullish trend to sustain further for some more weeks.
While RSI has been converging these price spikes, the current RSI on weekly chart is trending at 66.0354.
To confirm this bullish view, slow stochastic curves has approached above 80 levels but no trace of clear %D crossover which is again good signs for bulls.
On daily terms, despite the robust bullish sentiments, there has been a tug war between bulls and bears, but bears have been well leading the show as there are adverse indications.
However, this disparity could be interpreted as bears are generating good opportunities again. So buying one touch delta calls at every dips would be the trading idea for the day targets about 40-45 pips.
