USDCHF approaching major support, prepare to buy
Buy above 1.0033. Stop loss at 1.0000. Take profit at 1.0090.
Reason for the trading strategy (technically):
Price is approaching major support at 1.0033 (Fibonacci retracement, Fibonacci extension, horizontal support) where we expect to see a bounce towards at least 1.0090 resistance (Fibonacci retracement, horizontal pullback resistance).
RSI (34) is approaching our long term ascending support where we expect a bounce from.
Reason for the trading strategy (technically):
Price is approaching major support at 1.0033 (Fibonacci retracement, Fibonacci extension, horizontal support) where we expect to see a bounce towards at least 1.0090 resistance (Fibonacci retracement, horizontal pullback resistance).
RSI (34) is approaching our long term ascending support where we expect a bounce from.
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