US Dollar forms a bullish flag against Swiss Franc
After having made research and taking in to account the current conditions i think that sadly we can see a strong pump in the us dollar for the coming weeks.
If you look at the chart of Swiss Franc against US Dollar you can clearly see a bullish flag pattern which usually indicates an accumulation followed by a continuation on the actual uptrend.
If the price opens and closes over the upper trend line i will consider to open a long with targets 1.021 1.07 1.15 and 1.25 and i will set an stop loss order at 0.957.
In the case that a clean daily candle is printed over the upper trend line i will try to enter at the pullback of the breakout with a limit order on 0.974.
If the price fails to close over the upper trend line this setup is invalidated.
I would be glad to see what do you think in the comments and if you agree with me don't forget to give a boost.
Regards and happy trading.
If you look at the chart of Swiss Franc against US Dollar you can clearly see a bullish flag pattern which usually indicates an accumulation followed by a continuation on the actual uptrend.
If the price opens and closes over the upper trend line i will consider to open a long with targets 1.021 1.07 1.15 and 1.25 and i will set an stop loss order at 0.957.
In the case that a clean daily candle is printed over the upper trend line i will try to enter at the pullback of the breakout with a limit order on 0.974.
If the price fails to close over the upper trend line this setup is invalidated.
I would be glad to see what do you think in the comments and if you agree with me don't forget to give a boost.
Regards and happy trading.