Chapter 34 USDCHF keep the range to the upside
5/12/2022
Summary
US BMI news drives the market
Fundamental analysis
I'm writing this article after PMI news has been released in the US All the news come with a positive result For the USD With the previous positive results on nonfarm payroll on Friday
On the other hand, we have no news on the CHF at the moment
Technical analysis
We can see on the 4-hour chart diagram That market is trying to push up after news has been released Price now touching the20 moving average at 0.94050 And we expect the price to keep pushing up to break the4 hour anchor at 0.94434 And continue up to the previous supply zone at 0.95800
Suggestion
Scenario #1
Buy stop at 0.94527 SL 0.94000 TP 0.95707
This scenario more likely to happen
Scenario #2
Sell limit at 0.94434 SL 0.95000 Tp 0.93284
