After making the high of 0.8130 on 24th June, which was preceded by the structural shift of the price form bearish to bullish which got confirmed after the breakout of 0.8042 level, price took most required correction & has retested the strong bullish support level of 0.8011, following to which price had started to make HH & HL formation and now has reached a breakout level denoted by a horizontal neckline at 0.8074, if price breaks above it we can take fresh long entries on USDCHF.
Price is expected to show sustained up-move, hence it's suitable for making positional bets, we see a good Up-side for short to midterm time period (Kindly Check the additional resources for the reference).
Immediate support is at 0.8054 and immediate resistance is at 0.8097
Summary: Only long Trades should be preferred, It's an opportunity to take positions before price continues in its expected direction. however waiting for the breakout of 0.8074 could be a good idea for fresh entries.
For Educational Purposes only, Not an Investment Advice, Always use strict Risk management measures.
Regards CrazyTrades247.
Price is expected to show sustained up-move, hence it's suitable for making positional bets, we see a good Up-side for short to midterm time period (Kindly Check the additional resources for the reference).
Immediate support is at 0.8054 and immediate resistance is at 0.8097
Summary: Only long Trades should be preferred, It's an opportunity to take positions before price continues in its expected direction. however waiting for the breakout of 0.8074 could be a good idea for fresh entries.
For Educational Purposes only, Not an Investment Advice, Always use strict Risk management measures.
Regards CrazyTrades247.
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Join Telegram Channels for more Trades ideas 🧿
🟢For Forex and International Commodities
t.me/CrazyTrades247_FX_International
Connect us
+91-9238387447
crazytrades247@gmail.com
🟢For Forex and International Commodities
t.me/CrazyTrades247_FX_International
Connect us
+91-9238387447
crazytrades247@gmail.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.