USD/CHF Strong Uptrend Supported by Trendline

2 min read
Davinwu

Davinwu

Author

Dear Traders,

The USD/CHF has been in an uptrend since ending June, with momentum only getting stronger at the moment. After a minor retracement, now price finds itself in an area of confluence. We might see a bullish bounce.

Our POC zone is 0.9918-28 [Historical Order Block, D L3, 7/8]. Retracement might end at this key support level for bulls to take over. Our targets are 0.9965 [W H3, D H4, ATR P High], and subsequently 0.9987 D H5 level. With enough momentum, we might see price move to 1.000 W H4 and Round Level.

This analysis only holds if 0.9890 holds [D L5, 4/8, Order Block Confluence]

The analysis has been done with the
CAMMACD.MTF template.
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Many green pips,
Davin Wu aka AmbitionFX

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