USDCHF is testing the long-term range support zone
USDCHF is testing the long-term range support zone 0.9000-0.9050. A bounce from here and a break above 0.9200 is needed for the upside reversal. For a downside continuation and higher probability short trade entries, we need to see a break below 0.9000. USDCHF reached 0.9050 after a rejection from the strong long-term upside resistance 0.9650-0.9700 zone. The overall long-term is a sideways range and a confirmed break above 0.9200 will lead to an extended continuation higher to an upper range side.
Note – We are inclined to long trade entries with the stop loss below 0.9000 if you will be stopped out go short with the stop loss above 0.9070
Quote of the Day
If you are not sure you can stand the pressure of trading business don’t start
FUNDED TRADER ACCOUNT WITH 100% PROFIT SHARE AND 15% OFF FOR REGISTRANTS BEFORE 20/08/2020!
If you want to learn trading analysis and how to get to key trading levels like in this article register for Private Live mentoring with your trading evaluation.
Sponsored by our recommended brokers.
