USDCHF – expecting bullish continuation for the week of 13 June
This pair has made parabolic gains since April 2022, a strong pullback in May notwithstanding. The support at 0.9560 was tested several times but held firm. This level became the base from which price launched again. Last week saw a strong dollar again and a break above the next significant level at 0.9840. IMO we are bullish again and this is my bias for the next week.
I will be looking for a small pullback to the 0.9840 region and will be monitoring price action to take a long trade. My stop will have to be below the low of Friday’s candle while targeting the next S/R area around 1.003. If this trade does work out, we have a potential 2.4R trade.
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Always use sound money and risk management and stay patient in all your trades.
I will be looking for a small pullback to the 0.9840 region and will be monitoring price action to take a long trade. My stop will have to be below the low of Friday’s candle while targeting the next S/R area around 1.003. If this trade does work out, we have a potential 2.4R trade.
If you like my analysis, please give it a “thumbs up” and follow me to get immediate notifications.
Always use sound money and risk management and stay patient in all your trades.
Trade closed: target reached
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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.