USD/CHF Daily Chart Our Expectations: Mid-term rising trend, correction to horizontal and diagonal support. Possibility for long positions with SL 0.9785.
Alternative scenario: If the price fails to maintain levels and goes below the diagonal support, it will be back in the declining long-term channel. Then, after a test of the breakaway, we could seek short positions with a confirmation from a price action signal.
Commentary: Mid-term rising trend, correction to horizontal and diagonal supports. Breakaway and a successful test of an ex-resistance, now diagonal support. This level coincides with 50 SMA and 23.6 Fibo, which makes it even more important. CCI 50 is above 0, which indicates that the movement is long. CCI 14 crosses -100 from bottom to top. Both indicators in combination gives us a bullish signal and are the last condition that we need to go long.
SL: 0.9785
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