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The USDCHF is actually in a great period and it's giving us a great long opportunity!
Before to continue with the description and more details, I highly suggest you to have a quick look on my previous Daily Technical Analysis to understand the reasons I believe the market is getting an upcoming inversion.
You could check it out on the "Link to Related Ideas" or clicking the link here below:
Let's focus now on the area that interests us:
The price's actually reached an important support area and the falling wedge's dynamic trendline support, getting now few signs of rejection.
It's still following a downtrend, keeping the bearish movements under the ema 50, but the RSI is actually showing a nice convergence!
IF THE PRICE will give us a proper confirmation breaking the resistance, you could decide to entry long once the pullback is confirmed! (DO NOT OPEN ANY POSITION RIGHT NOW!)
Here below the details of this trade:
ENTRY POINT: 0.88413
TAKE PROFIT: 0.89190
STOP LOSS: 0.88089
RISK/REWARD RATIO: 2.4
Trade Safe and Responsibly
Gianni
The USDCHF is actually in a great period and it's giving us a great long opportunity!
Before to continue with the description and more details, I highly suggest you to have a quick look on my previous Daily Technical Analysis to understand the reasons I believe the market is getting an upcoming inversion.
You could check it out on the "Link to Related Ideas" or clicking the link here below:
Let's focus now on the area that interests us:
The price's actually reached an important support area and the falling wedge's dynamic trendline support, getting now few signs of rejection.
It's still following a downtrend, keeping the bearish movements under the ema 50, but the RSI is actually showing a nice convergence!
IF THE PRICE will give us a proper confirmation breaking the resistance, you could decide to entry long once the pullback is confirmed! (DO NOT OPEN ANY POSITION RIGHT NOW!)
Here below the details of this trade:
ENTRY POINT: 0.88413
TAKE PROFIT: 0.89190
STOP LOSS: 0.88089
RISK/REWARD RATIO: 2.4
Trade Safe and Responsibly
Gianni
