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Daily FX Trading Strategy: USD/CHF - Upside focus on minor top at 1.1246Join US and Strategize Your FX Trading Now!! www.imperialFXonline.com
Daily FX Trading Strategy: USD/CHF
Upside focus on minor top at 1.1246
- Above 1.1246 extend medium-term uptrend towards 1.1324
The greenback's breach of the minor resistances at 1.1134/40 have turned the near term outlook somewhat bullish and the dollar looks set to re-test the minor top made last week at 1.1246 (the correction from there ended earlier at 1,0924) and a breach of this resistance would provide confirmation of a resumption of the multi-month uptrend which began last year at 0.9916, extend gains to 1.1300 but the overbought oscillator readings may limit the usd/chf's upside from there.We are holding a long position with the stop raised to reduce the potential loss and only below the support at 1.1036 would keep price inside the range of 1.0924-1.1246 (increasing the likelihood of another fall to the lower level later).Written by imperialFXonline.comHigh Risk Warning: Foreign exchange trading
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- Only below 1.1036 risks another fall towards 1.0924
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