USDCHF DAILY ANALYSIS - MACD BULLISH AND BLUE TRENDLINE BROKEN

Hey traders,

Here is my analysis for USDCHF on the daily time frame.

As you can see price has made a strong close above the blue trendline.

On the MACD daily we can see it has also turned bullish.

Since USDCHF is negatively correlated with the EURUSD, and EURUSD is currently bearish. This has bullish implications for USDCHF.

My previous analysis said to wait for confirmation and breakout of this blue trendline. It will be good to enter long positions this upcoming week.

Price has also broken above the 200 day moving average.

Simple price action and analysis leads to simple profits.


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