Usdchfsetup
USDCHF LONGI anticipate that price will bounce off the short upwards trendline on the daily chart.
The US Dollar Currency Index shows a strong inclination to support USDCHF long prediction as it's also moving in quite a similar direction.
Entered trade at 0.93870
A risk-reward ratio of 1:7.89
SL: 0.93540 (-49.1 pip risk)
TP: 0.95326
TP2: 0.96708
TP3: 0.97905
It should be an interesting pair for the next week or so. Swing trade all the way.
USD/CHF Technical Analysis.Currently, USD/CHF is trading at 0.9622. The pair is consolidating in the resistance and support wedges. If it breaks the resistance level at 0.9730, the pair may start a new up trend and its target price will be at 0.9791. If it breaks the support level at 0.9613, the pair may enter into a down trend and its target price will be at 0.9553.
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Rishikesh Lilawat