USDCHF approaching support, potential rise!
Updated
USDCHF is approaching our first support at 0.9576 (horizontal overlap support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) which coincides with our short term ascending support line. A strong bounce could occur above this level, pushing price up to our major resistance at 0.9639 (horizontal swing high resistance). Ichimoku cloud is also showing signs of bullish pressure, in line with our bullish bias.
RSI (89) is also approaching our major ascending support and a bounce off this level might be a good precursor for a potential rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (89) is also approaching our major ascending support and a bounce off this level might be a good precursor for a potential rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Trade closed: target reached
Rallied up nicely to our major resistance!!! Did you guys manage to get on this trade?
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