USD/CHF:
Date: 28 February, 2017
H4 Graph: Medium term Trend long
Price did made a correction down to FIB 50% and held looking at the bigger picture. Now the price makes higher lows and formed a bullish price channel. After this last correction, now price is at the diagonal support and horizontal support at 1.00200. It is possible that price will stop its fall here and continue up. Price also remains above the 200 ЕМА, as a dynamic support. 50 ЕМА is still above the 200 ЕМА indicating up move is possible.
DEM: It came out of the oversold zone and pointing up for long.
Alternative scenario: If the price moves lower and breaks below the diagonal support and horizontal support below 1.000, this will cancel the bullish view.
Price for Entry long around: 1.00200
SL: 0.9980
Trader - S. Fuchedzhiev
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