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
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