USD/CHF, detailed breakdown of the chart

First of all, taking a look at higher timeframe charts, it can be clearly noticed that the overall sentiment of the market is bullish. The price is currently wandering around the area of the ascending zone, as it is indicated on the graphical illustration. As we can notice from the previous encounters of the price with the local ascending zone, before launching to the upside, a nice bottom had been being formed in all cases. Thus, we will now be patient and wait for the price to form a decent bottom at the local zone of support, before we open BUY positions and aim for the target zone identified on the chart.

From the fundamental side of events, we have NFP news tomorrow, which will have a huge impact on the US Dollar and the overall market. If everything goes according to the plan and the figures turn out to be in favour of the USD, we will see some great movements on USD/CHF.

Happy trading, everyone!