Overview:
- The USD/CHF pair has already found the major support at the level of 1.0057 and minor support is found at 1.0120. Equally important, the level of 1.0120 coincides with a ratio of 61.8% Fibonacci retracement levels. On the other hand, the double top was placed at the point of 1.0263; and the first resistance line is seen at 1.0211. Additionally, according to the previous events, the price will move between 1.0120 and 1.0263. In addition, we expect a range of about 123 pips today. Also, it should be noted that the trend is ascending from the support level of 1.0120. Therefore, strong support is expected to be found at the level of 1.0120 providing a clear signal to buy with a targets at 1.0211. If the trend is able to break the first target, it will resume towards 1.0263. Anywise, stop loss should never exceed your maximum exposure amounts, for that the stop loss should be placed below the double bottom at the level of 1.0012.
Forecast:
- The minor support sets at 1.0120 for that it is a good deal to buy at 1.0120 with targets at 1.0211 and 1.0263. However, the stop loss must be placed at 1.0012.
