USD/CHF is expected to trade with bullish outlook. The pair recorded a series of higher tops and higher bottoms, which confirmed a bullish outlook. The upward momentum is further reinforced by both 20-period and 50-period moving averages. The relative strength index shows upward momentum.
Hence, above 0.9465, look for an advance with targets at 0.9535 and 0.9565 in extension.
Chart Explanation: The black line shows the pivot point. The present price above the pivot point indicates a bullish position, and the price below the pivot point indicates a short position. The red lines show the support levels, and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Strategy: BUY, stop loss at 0.9465, take profit at 0.9535.
Resistance levels: 0.9535, 0.9565, and 0.9600
Support levels: 0.9425, 0.9400, and 0.9350.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Performed by Ahsan Aslam,
InstaForex Group © 2007-2018
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