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USD/CHF: The buyers to keep an eye at the breakout level

EagleFX

USD/CHF has been bullish in the daily chart for the last two trading days. The H1 chart shows that the price made a bullish breakout at Friday’s highest high and traded above the level for several candles. The price may have found its resistance. It has been in a bearish correction. If it comes down at the breakout level and produces a bullish reversal candle, the buyers may find an opportunity to go long in the pair.

Chart 1 USD/CHF H1 Chart


The chart shows that the price made a breakout at the level of 0.91600 and traded above the level for three more candles as of writing. Upon finding its resistance, it has produced a bearish inside bar. It has been having a bearish correction. If the level of 0.91570 produces a bullish reversal candle, the buyers may trigger a long entry above the level of 0.91700.

Trade Summary:

Entry: Buy above 0.91700

Stop Loss: Below 0.91570

Take Profit 1: 0.91975

Take Profit 2: 0.92060

Take Profit 3: 0.92200

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