USD/CHF: Our analysis confirmed! What to expect next week?
Last week we took a call on USD/CHF. Our analysis suggested that the pair would fly in a short term.
The weekly shows that TP1 has been hit. Prices converged around TS before confirming the move. Friday’s candle closed above it showing the bullish momentum is not over. This is also confirmed by LS.
Daily confirms the bullish momentum. Friday’s big blue candle confirms it. Look at how LS rebounded nicely on SL. TS and KS’s slopes are pointing upwards. Prices should likely move to TP2.
H4 shows an exhaustion on the last two candles. We expect a slight correction downwards before going up again. Stops can be placed either on H4 KS (around 1.01800) or on the extension of H4 SSB as shown above.
We remain bullish on the pair.