USDCHF Bullish Channel

USDCHF has been trading inside the same channel for the past week, once the pair broke above the 1.1485/1.15 resistance we saw it reach the top side of the channel, after that the pair retested the former resistance now turned into support and resumed the bullish movement. As long as current conditions don’t change we are confident it will push towards our projected target of 1.1850(it’s the same hight as the triangle formed from Oct 10th low at 1.1150 and 1.1500).

USDCHF has been trading inside the same channel for the past week, once the pair broke above the 1.1485/1.15 resistance we saw it reach the top side of the channel, after that the pair retested the former resistance now turned into support and resumed the bullish movement. As long as current conditions don’t change we are confident it will push towards our projected target of 1.1850(it’s the same hight as the triangle formed from Oct 10th low at 1.1150 and 1.1500). Buying dips should be the strategy of choice, with tight stops under the intermediate lows.

 

[NP][/NP]