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U.S. Dollar / Swiss Franc
Long

USDCHF Great long-term bottom buy opportunity.

By TradingShot
The USDCHF pair is trading considerably below its 1D MA50 (blue trend-line) since July 04 2024, as it was on a major 5-month Bearish Leg following the 1W MA200 (red trend-line) peak and rejection on May 01.

The 1D MACD however has formed its 2nd straight Bullish Cross and last time that took place was on January 04 2024, right after the pair's bottom from the 2023 Bearish Leg.

As a result, we treat the current levels as the most optimal long-term buy opportunity for the year, targeting again a potential 1W MA200 contact at 0.90500.

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