USDCHF turn bullish with long term resistance broken
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 resistance (Fibonacci retracement, swing high resistance).
RSI (55) has made a bullish exit similar to the one seen in price and is also above ascending support.
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 resistance (Fibonacci retracement, swing high resistance).
RSI (55) has made a bullish exit similar to the one seen in price and is also above ascending support.
