USD/CHF analysis for January 21, 2019 - ConsultFX

USD/CHF analysis for January 21, 2019


USD/CHF is expected to move higher towards 1.0050 as long as it holds above the upward trendline. Ideally support at 0.9930 will be able to protect the downside for a break resistance at 0.9984 that confirms the next push higher towards 1.0070 and 1.0150. Only a break below support at 0.9930 will force a recount of the rally from 0.9975.

Trading recommendation: We are long USD/CHF from 0.9975 with take profits at 1.0007 at the 1.0050. Protective stop is placed at 0.9940.

The material has been provided by InstaForex Company -