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28.02.201809:26 Forex Analysis & Reviews: Technical analysis of USD/CHF for February 28, 2018

Long-term review

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Our upward target which we predicted in the previous analysis has been hit. USD/CHF is expected to trade with a bullish outlook. The pair bounced off its key horizontal support at 0.9360, and is likely to challenge its next resistance at 0.9410. The relative strength index is bullish, supported by a rising trend line.

In which case, as long as 0.9360 holds on the downside, look for a new rise to 0.9435 and 0.9460 in extension.

Chart Explanation: The black line shows the pivot point. The present price above the pivot point indicates a bullish position, and the price below the pivot point indicates a short position. The red lines show the support levels, and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy: BUY, stop loss at 0.9360, take profit at 0.9435.

Resistance levels: 0.9435, 0.9460, and 0.9490

Support levels: 0.9325, 0.9295, and 0.9255.

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