Daily Trading Signal

    * USD/CHF at 0.8870, immediate support at 0.8865, triple bottom on 2-hour time frame.

    * Bullish correction possible with doji and bullish engulfing candlestick near 0.8865, RSI and MSCD oversold.

    * Buy above 0.8865, target 0.8900 or 0.8925, stop loss below 0.8835.

The safe haven currency pair USD/CHF is currently trading around the 0.8870 level and is facing immediate support around the 0.8865 level. This support level is reinforced by a triple bottom formation that can be seen on the two-hour time frame.

The formation of a doji and bullish engulfing candlestick pattern near the 0.8865 level indicates that there may be a bullish correction in this pair. Additionally, the RSI and MSCD indicators have entered the oversold zone, which could give investors another reason to consider a buy position above the 0.8865 level.

The recommendation is to look for a buy position above 0.8865 with a target of 0.8900 or 0.8925, and to have a stop loss below the 0.8835 level.

USD/CHF - Trade Idea

Entry Price – Buy Above 0.88649

Stop Loss – 0.88401

Take Profit – 0.89253

Risk to Reward – 1 : 2.45

Profit & Loss Per Standard Lot = +$604/ -$248

Profit & Loss Per Micro Lot = +$60/ -$24

Daily Trading Signal

    * USD/CHF oscillates around EMA50, maintaining a bearish trend.

    * Staying below 0.9030 is crucial for the anticipated decline.

    * Today's trading range: 0.8880 support, 0.9050 resistance.

The USD/CHF pair continues to bounce around the 50-day exponential moving average (EMA50), staying below it and within the chart's negative channel. This keeps the bearish trend scenario legitimate and active for the foreseeable future, with the 0.8865 level as the primary objective.

Staying below 0.9030 is critical for the expected slide to continue, as a break of this level would trigger a corrective bullish wave with initial targets around 0.9180. The projected trading range for today is 0.8880 support to 0.9050 resistance.

USD/CHF Trade Idea

Entry Price – Sell 0.89566

Stop Loss – 0.89916

Take Profit – 0.89216

Risk to Reward – 1 : 1

Profit & Loss Per Standard Lot = +$390/ -$390

Profit & Loss Per Micro Lot = +$39/ -$39

Daily Price Outlook

The USD/CHF pair experienced a noticeable decline after testing the EMA50 in previous sessions, approaching our initial target of 0.9000. We anticipate the bearish trend to continue, surpassing this level and paving the way towards 0.8920 as the next primary target.

The EMA50 exerts ongoing negative pressure, bolstering the predicted bearish trend, which will persist as long as the price remains below 0.9100.

Today's expected trading range lies between 0.8950 support and 0.9100 resistance.

USD/CHF Trade Idea

Entry Price – Sell Below 0.9033

Stop Loss – 0.9062

Take Profit – 0.8980

Risk to Reward – 1 : 1.80

Profit & Loss Per Standard Lot = +$587/ -$321

Profit & Loss Per Micro Lot = +$58/ -$32

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