Forex Marketz Daily Forex News – Fully Markets Update
USD/CHF (0.90730)
The dollar is trying to move higher against the Swiss franc and resume its rally. We note a bullish hammer candlestick near its current price level than a move higher. A close above 0.9115 will open the doors for 0.9150 then 0.9175. Looking at an alternative view a move lower and below 0.9050 can reopen the doors for 0.8960 and lower.
Traders should look to take advantage of this current price action. For example, opening a long position, at the current level, with a stop at 0.9017/0.9018 could help with profits as the price moves higher. This is an example of taking a long position with a bullish view on a financial instrument.
