Evening Traders,
Today’s analysis – USDCHF- trading above the 200 MA with further upside probable,
Points to consider,
- Price action impulsive
- Local S/R resistance
- 200 MA support
- Oscillators bullish control
USDCHF’s immediate price action is trading at Local S/R where multiple candle closes will have a bullish sign.
The 200 MA is considered immediate support, price action exceeding this level is indicative of weakness.
Both oscillators are trading in their respective bullish control zones, remaining in these regions is indicative of strength.
Overall, in my opinion, USDCHF is a valid long with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“If you have to win, if you have to be right, if you can’t lose or can’t be wrong, you will cause yourself to define and perceive categories of market information as painful.”
― Mark Douglas
Today’s analysis – USDCHF- trading above the 200 MA with further upside probable,
Points to consider,
- Price action impulsive
- Local S/R resistance
- 200 MA support
- Oscillators bullish control
USDCHF’s immediate price action is trading at Local S/R where multiple candle closes will have a bullish sign.
The 200 MA is considered immediate support, price action exceeding this level is indicative of weakness.
Both oscillators are trading in their respective bullish control zones, remaining in these regions is indicative of strength.
Overall, in my opinion, USDCHF is a valid long with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“If you have to win, if you have to be right, if you can’t lose or can’t be wrong, you will cause yourself to define and perceive categories of market information as painful.”
― Mark Douglas