USD/CHF: Trade ideas for August 20
The USDCHF is trying to form a bullish pattern above the support level of 0.9084, due to that this pair had a bullish momentum above the 200 EMA on the H1 chart. Now the USDCHF is trying to climb up to the resistance level of 0.9105.
If this pair manages to make a breakout at that level, it's expected to rise to the the resistance level of 0.9140, where this located the 161.8 Fibo extension level. For now, the USDCHF is maintains above the 500 EMA (red line). The CCI indicator is pointing downwards, but still shows no divergences.
Trading recommendations: Place buy orders if the USDCHF does a breakout at the resistance level of 0.9105, with take profit at 0.9140.