1,2118. USD CHF is in an uptrend supported by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CHF. The price should find a support above 1,2050 (68 pips). The uptrend should continue to gather momentum. The target is expected at 1,2500 (382 pips).
=> We could take a long position at 1,2110. We will put the stop loss below 1,2050 (-60 pips). The targets are 1,2200 (+90 pips, risk/reward 1:1.5), 1,2270 (+160 pips, risk/reward 1:2.7) .
Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following):
3.
- Resistances
- 1,2150 - 1,2200
- Supports
- 1,2070 - 1,1990
