USDCHF Swing High| Local S/R| 200 MA| Price Action

Evening Traders,

Today’s analysis – USDCHF – trading above its Local S/R where a deviation bullish is probable,

Points to consider,
- Price Action Impulsive
- Local S/R Support
- Swing High Objective
- Oscillators Extended

USDCHF’s immediate price action is trading above is respective its Local S/R that has technical confluence with the .50 Fibonacci – allowing for a long bias.

The current objective is the Swing High, exceeding this level increases the probability of a trend continuation.

Both oscillators are currently extended; a reversion to their means is highly imminent.

Overall, in my opinion, USDCHF is a valid long with defined risk; price action is to be used upon discretion/ management.

Hope this analysis helps, thank you for following my work

And remember,

“Trading doesn't just reveal your character, it also builds it if you stay in the game long enough.”
― Yvan Byeajee