Positioning Bias:
Short term trend: Bullish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.9603
Kijun-Sen level: 0.9620
Ichimoku cloud top: 0.9667
Ichimoku cloud bottom: 0.9647
USD/CHF has made a low of 0.9550 and is recovered from that level.
Overall trend is bullish as long as support 0.9539 holds.
The break of 0.9539 will target 0.9470/0.9440 in the short term.
The major resistance is around 0.9690 and any indicative break above would target 0.9740/0.9858 (161.8% retracement of 0.9740 to 0.9551).
Bullish invalidation only below 0.9539.
Recommendation: Buy USD/CHF around 0.9600, SL 0.9539, Target 0.9858.
Short term trend: Bullish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.9603
Kijun-Sen level: 0.9620
Ichimoku cloud top: 0.9667
Ichimoku cloud bottom: 0.9647
USD/CHF has made a low of 0.9550 and is recovered from that level.
Overall trend is bullish as long as support 0.9539 holds.
The break of 0.9539 will target 0.9470/0.9440 in the short term.
The major resistance is around 0.9690 and any indicative break above would target 0.9740/0.9858 (161.8% retracement of 0.9740 to 0.9551).
Bullish invalidation only below 0.9539.
Recommendation: Buy USD/CHF around 0.9600, SL 0.9539, Target 0.9858.