Good morning traders, this time we want to show you our long-term analysis in USD/CHF, since it is about to reach the bullish target that we raised a few weeks ago.
🔸As we can see, the price had been in a downtrend for almost two years, until strong demand was found in the support zone.
🔸From there, at the beginning of this year, the price started an upward movement that had not stopped so far.
🔸Now, it is close to the Descending Trendline, which is the first bullish target on the way.
🔸Here we consider two potential scenarios:
1- The first situation is a bullish continuation. This implies that the Descending Trendline is broken to the upside. In case this happens, the next target of the move is the Resistance zone at 0.9900.
2- And the second situation is a rebound and its subsequent downward movement. In this case, we could see a pullback towards the 0.9100 area.
🔸As we can see, the price had been in a downtrend for almost two years, until strong demand was found in the support zone.
🔸From there, at the beginning of this year, the price started an upward movement that had not stopped so far.
🔸Now, it is close to the Descending Trendline, which is the first bullish target on the way.
🔸Here we consider two potential scenarios:
1- The first situation is a bullish continuation. This implies that the Descending Trendline is broken to the upside. In case this happens, the next target of the move is the Resistance zone at 0.9900.
2- And the second situation is a rebound and its subsequent downward movement. In this case, we could see a pullback towards the 0.9100 area.