In a strong uptrend, we will be looking to buys USDCHF at every support. There is no sells in USDCHF at any level right now. Just continuous buying from supports. We are targeting the H4 support at 0.9900 from where we will be taking the bullish position on the USDCHF, with the profit target being at the resistance level top above. This support will act as a strong catalyst for the buy position. 

The market is in an ascending trendline of channels. The upper trendline needs to be tapped and can even be broken out for buys. On the lower trendline, a rejection is probable once the market reaches the support and retests the bottom trendline. The rejection will be the final confirmation we will be looking for to take the long position. 

The golden retracement level is in confluence with the support level. This support level of retracement will make the trend continuation. 

Both the EMA's are in a bullish trend with a bullish death cross. The EMA 50 has a high probability of tapping the support area, where the market will soon be retracing at, hence, giving an added opportunity for the market to add another factor of the buys to continue moving up.

Both the oscillators are in a bullish region, having a window till the over bought region. The RSI is at 61 and CCI at 110.  This indicates that there is still a window towards the upside from these oscillator levels. Therefore, we anticipate a further leg up on the USDCHF. 

USDCHF buys from 0.9900

May 12 2022

Take Profit +1.25%

Holding time 5hr

0.99110

Entry price

1.00350

Take profit price