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theforexarmy

USDCHF turn bullish with long term resistance broken

Long
U.S. Dollar / Swiss Franc (FX:USDCHF)  
theforexarmy  
FX:USDCHF   U.S. Dollar / Swiss Franc
usdchffib usdchfwavecount usdchfforecast usdchfprediction usdchfidea usdchfoutlook usdchfsignal usdchftrade usdchfweekly forexsignals forextrading forextradingzones forexanalysis Forex
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usdchffib usdchfwavecount usdchfforecast usdchfprediction usdchfidea usdchfoutlook usdchfsignal usdchftrade usdchfweekly forexsignals forextrading forextradingzones forexanalysis forex
Buy above 0.9958. Stop loss at 0.9900. Take profit at 1.0044.
Reason for the trading strategy (technically):
Price has broken our long term descending resistance-turned-support line signalling a change in momentum to bullish. We turn bullish above 0.9958 support (Fibonacci retracement, horizontal overlap support, pullback support) for a push up to 1.0044 resistance (Fibonacci retracement, swing high resistance).
RSI (55) has made a bullish exit similar to the one seen in price and is also above ascending support.

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theforexarmy
USDCHF dropping nicely, remain bearish
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