FBS: trade recommendation for USD/CHF
By Tatyana Norkina, FBS analyst
Yesterday the currency pair found support in the 0.9025 area, and then recovered to the levels around 0.9070. This increase could be interpreted as the end of correction at H4, but this pair needs to overcome the resistance of 0.9070.
Ichimoku indicator.This level is important, since on H4 here is the upper limit of the Ichimoku Cloud. One of the conditions for the further growth is the pair’s exit of the Cloud and settling above it.
Also pay attention to H1. Here, the pair went into the positive region, but hasn’t decisively fixed there. The Ichimoku Cloud is still bearish. Therefore, in the near future we can’t rule out the decline to 0.9060.
In case of breaking above 0.9070, the bulls will get into the range of 0.9085-0.9100.
Technical levels: support - 0.9040, 0.9060; resistance - 0.9085 / 0.9100.
1. Sell - 0.9085; SL - 0.9105; TP1 - 0.9060; TP2 - 0.9040.
2. Buy - 0.9070; SL - 0.9050; TP1 - 0.9100.