brandonlz2017
Long

USDCHF Potential Retrace Setup

FX:USDCHF   U.S. Dollar/Swiss Franc
42 0 2
Drawing on some key support levels, USDCHF             is positioned to test these levels.

1.0082
1.00814

On a long term 1week time frame, USDCHF             has broken out from consolidation. Lower highs and higher lows have described the price movement from early 2015 until November 14th of this year. A long term uptrend may be in the future.

snapshot


For an aggressive trade, the stop loss can be set lower, potentially to .99441, another key support level . My stop of 1.002 is near the 20EMA line of strength. If the retracement bounces off the 1.00814-1.006 range, it is highly probable that price will retest 1.019 range.
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