USD/CHF Bullish Breakout with Potential Retest and Rally to 0.8

10월 5일

Analysis:
Recent Trend: The price has shown a clear rally after a period of consolidation between 0.8440 and 0.8510. After testing the lower bound near 0.8440, there was a significant breakout above 0.8510, leading to a sharp upward movement, peaking around 0.8574.

Support & Resistance:

Support: 0.8470 - The previous consolidation area and where the price bounced several times before breaking out.
Resistance: 0.8570 - 0.8580 - The area where the price is currently facing some resistance after the breakout.
Momentum: The sharp rise indicates strong buying momentum, with buyers pushing the price higher. However, as it approaches the resistance zone, traders might take profits, leading to short-term pullbacks.

Volume: There seems to be an increase in volume as the breakout happened, which validates the strength of the move. Higher volume during breakouts typically signals confidence in the trend.

Prediction:
The breakout from the 0.8510 consolidation zone signals a bullish trend. The pair is likely to continue upward momentum, with the next significant resistance zone around 0.8580-0.8600. However, a pullback to retest the support zone at 0.8510 could occur before further upward movement.

Trade Idea:
Entry: Consider entering a buy position if the price consolidates above 0.8510 after a pullback, with confirmation from bullish candlesticks or technical indicators (like RSI or MACD).
Profit Target: Aim for a target of 0.8600, which is the next resistance zone.
Stop Loss: Place a stop loss below 0.8470 to account for false breakouts and downside risk.
Let me know if you need any more detailed suggestions or would like adjustments to this strategy.