FBS: trade recommendation for USD/CHF
Tatiana Norkina, FBS analyst
The currency pair started today’s trading with the decline, which was preceded by an attempt to break the resistance of 0.9155. While the market is trying to find support in the area of 0.9140, if the level fails to hold, the currency pair may depreciate to the 0.9120 mark.
Ichimoku indicator. On H1 support in the 0.9140 area is formed by a powerful level – the upper limit of the Ichimoku Cloud. In addition, here was yesterday’s support, formed by the line Kijun-sen. The 0.9120 mark is notable for the fact that there is a lower limit of the Cloud – Senkou Span B, which can be a starting point for new purchases.
At H4 the pairfour-hour the pair maintains bullish trend. The Cloud continues growing, and the Golden Cross formed by Tenkan and Kijun is still relevant. Therefore, after a correction the long-term uptrend may continue.
Technical levels: support - 0.9120, 0.9140; resistance - 0.9155, 0.9170.
1. Buy - 0.9120; SL - 0.9100; TP1 - 0.9155; TP2 - 0.9170.
2. Sell - 0.9150; SL - 0.9170; TP1 - 0.9120.