USDCHF approaching our major support, prepare to buy
Buy above 0.9679. Stop loss at 0.9629. Take profit at 0.9757.
Reason for the trading strategy (technically):
Price continues to inch down towards our buying area. We remain bullish looking to buy on dips above 0.9679 support (Fibonacci retracement, horizontal pullback support) for a further push up to 0.9757 resistance (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance).
RSI (34) has made a bullish exit of our triangle formation and remains in a bullish configuration.
Reason for the trading strategy (technically):
Price continues to inch down towards our buying area. We remain bullish looking to buy on dips above 0.9679 support (Fibonacci retracement, horizontal pullback support) for a further push up to 0.9757 resistance (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance).
RSI (34) has made a bullish exit of our triangle formation and remains in a bullish configuration.