USD/CHF Might Go for a Retest of 1.0240

Dear Traders,

The USD/CHF has been in a bullish consolidation phase after briefly spiking to 1.0235 on Friday. 1.0185-95 might provide a fresh bullish momentum –>

The POC Zone is still strong as we can  see from the marubozu candle and T-89 rejections at the EMA and D L3. Bollinger Bands are still congested, indicating the range but bullish momentum will persist as long as the price is kept above the W L3 – 1.0168. Targets are 1.0225 and 1.0240. If the price breaks 1.0240 it should reach 1.0253 but we shouldn’t expect a daily movement above it due to the ATR projection that shows 1.0233 as the daily projected high.

The analysis has been done with the
CAMMACD.MTF template.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

This article was originally posted on FX Empire

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