USD/CHF looks very promising for the much higher prices on up-coming months according to Elliott Wave analysis. In my view we will break minimum as minimum 2016's high.
DISCLOSURE - Please be informed that the information I provide is not a trading recommendation or investment advice. All of my work is for educational purposes only. All labeling and wave count...
THE PRICE IS VERY BULLISH FROM MONTHLY TO DAILY
In monthly time frame the price is creating higher highs and higher lows.
In weekly the price is over extended. If the price is over extended we can expect a correction. Also if we take fibonacci from high to low we can see that the .5 level is in confluence with structure. We can definitely expect the price to...
Buy above 1.0033. Stop loss at 1.0000. Take profit at 1.0090.
Reason for the trading strategy (technicall y):
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...
Buy above 0.9958. Stop loss at 0.9900. Take profit at 1.0044.
Reason for the trading strategy (technically):
Price has broken our long term descending resistance-turned-support line signalling a change in momentum to bullish. We turn bullish above 0.9958 support (Fibonacci retracement, horizontal overlap support, pullback support) for a push up to 1.0044...
