FBS: trade recommendation for USD/CHF
Tatyana Norkina, FBS analyst
Ichimoku. Bulls are trying to push above the 0.9400 figure, but this resistance is formed by a bunch of smaller levels on the hourly chart.
Yesterday's trade was rather contradictive. Morning weakness of the pair is explained by the dead cross. Bears successfully sold the pair and even broke below the lower Cloud border. However, price recovered to 0.9400 by the end of the day.
The bulls are very likely to organize new attacks in the near term. On the H4 chart the prices fixed below all the lines. There is an active golden cross and a rising Cloud.
Technical levels: support – 0.9380/90; resistance – 0.9400, 0.9430.
Buy — 0.9390; SL — 0.9370; TP1 — 0.9430; TP2 — 0.9460.