USD/CHF - Could we see a breakout!!
Likely scenario: Move to the upside after a break or retest above 0.9979 with targets at 1.0070
Alternative scenario: Below 0.9979 looking for a downside movement with 0.9891 as targets
Trade Comments: On the monthly we can see for the last few years that price has struggled t close above 0.9979 due to a number of things that has been happening over the years. Now since the beginning of 2018 we have this pair rallied up to the upside and also done a pull back to 0.9891, and for the last two months we seen it rally back up to 0.9979.
Looking on the weekly timeframe we seen a conformation of the pull back which has hit the 61.8 retracement level and pushed back up
Now on the daily timeframe its mirroring the weekly and monthly analysis that we can see for the last past few weeks/months price was rejected so many times and what we want is a break and a close or even a retest before considering a entry for a long position.