USDCHF - Correction from 161.8% near complete
USDCHF - Intraday - We look to Buy at 0.9950 (stop at 0.9920)
Broken out of the triangle formation to the upside. Reverse trend line support comes in at 0.9958. The 161.8% Fibonacci extension is located at 0.9979 from 0.9868 to 0.9937. The medium term bias remains bullish. This move is expected to continue and we look to set longs at good risk/reward levels.
Our profit targets will be 1.0040 and 1.0050
Resistance: 0.9979 / 1.0000 / 1.0040
Support: 0.9957 / 0.9949 / 0.9937
Broken out of the triangle formation to the upside. Reverse trend line support comes in at 0.9958. The 161.8% Fibonacci extension is located at 0.9979 from 0.9868 to 0.9937. The medium term bias remains bullish. This move is expected to continue and we look to set longs at good risk/reward levels.
Our profit targets will be 1.0040 and 1.0050
Resistance: 0.9979 / 1.0000 / 1.0040
Support: 0.9957 / 0.9949 / 0.9937
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