The price of USDCHF on the daily timeframe formed a bullish close off support suggesting we could see a reversal offering a long opportunity.

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Daily Trend

The price of USDCHF has recently found support in a key area, suggesting we could look for a long opportunity. 

When the price forms a bullish rejection it tells us that a reversal could be likely. If the price does move higher we could see a move back towards 0.9200.

4hr Trend

The price has made a new higher high on the 4hr time frame showing the potential for an uptrend to form. 

The price is currently retesting the previous 4hr highs as support, if this holds and the price breaks above the current 4hr candle high we could look for long trades.

15-Min Trend

The trend on the 15 minute time frame is currently down, we would need to see this change if we were to look for a day trading opportunity. 

Look for this trend to form a higher high and higher low pattern to trade the daily momentum on the lower time frame.

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About The Author

Jonathan Kibbler

Jon Kibbler, our Senior Market Analyst, boasts over a decade of trading experience. He specializes in dissecting the intricacies of financial markets and sharing his expertise with precision. Jon’s insights have been featured at renowned events and platforms like Coindex, Forex Analytix, and Forex.com.

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