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MEX_Exchange
Sep 25, 2017 2:38 AM

USDCHF bouncing up nicely remain bullish Long

U.S. Dollar/Swiss FrancFXCM

Description

Buy above 0.9679. Stop loss at 0.9629. Take profit at 0.9757.
Reason for the trading strategy (technically):
Price continues to inch down towards our buying area. We remain bullish looking to buy on dips above 0.9679 support (Fibonacci retracement, horizontal pullback support) for a further push up to 0.9757 resistance (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance).
RSI (34) has made a bullish exit of our triangle formation and sees an ascending support line holding it up really well.


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