FBS: trade recommendation for USD/CHF
Tatiana Norkina, FBS analyst
The currency pair consolidated yesterday over support in the 0.9035/0.9040 area after it broke above the important resistance level in the area of 0.9020. Obviously, there’s potential for further growth in the near future.
Ichimoku indicator. Indeed, the situation in both timeframes lets us talk about the power of bulls. Ichimoku configured very positively: Clouds are bullish, Golden Crosses are active. And on H1 golden cross was formed above the upper boundary of the Cloud, increasing the bullish signal.
On H4 mentioned resistance at 0.9060 is close, at which the consolidation or even short-term trend reversal may occur.
Technical levels: support - 0.9040; resistance - 0.9060.
1. Buy - 0.9040; SL - 0.9020; TP1 - 0.9060; TP2 - 0.9080.
2. Sell - 0.9060; SL - 0.9075; TP1 - 0.9020; TP2 - 0.8990.