USDCHF bouncing up nicely, remain bullish for a further rise
Buy above 0.9474. Stop loss at 0.9441. Take profit at 0.9523.
Reason for the trading strategy (technically):
Price has bounced up perfectly from our buying area and is fast approaching our profit target. We continue to buy above 0.9474 support (resistance-turned-support level) for a further push up to 0.9523 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (55,5,3) is bouncing nicely above our support at 3.6%.
Reason for the trading strategy (technically):
Price has bounced up perfectly from our buying area and is fast approaching our profit target. We continue to buy above 0.9474 support (resistance-turned-support level) for a further push up to 0.9523 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (55,5,3) is bouncing nicely above our support at 3.6%.