FX.co ★ blaise.rogahn | USD/CHF

On the USD/CHF weekly chart, after a slight pullback to the south, the price reversed and continued to push to the north, resulting in the formation of a bullish candle that was able to update the high of the previous weekly range with its northern shadow. For this instrument, considering the existing bullish signals and the overall bullish trend, I expect the upward movement to continue next week. In this case, as I have mentioned before, I am planning to focus on holding the resistance level located at 0.92448. Near this resistance level, there could be two scenarios. The first scenario involves the price consolidating above this level and further growth. If this plan is executed, I will be waiting for the price to move towards the resistance level at 0.94096. Near this resistance level, I will expect the formation of a trading setup to determine the further trading direction. Of course, I acknowledge that the price could be pushed further north towards the resistance level at 0.95986, but this will depend on the situation and how the price reacts to the designated higher northern targets as well as the news flow during the price movement. An alternative scenario for price movement when approaching the resistance level at 0.92448 would be a plan involving the formation of a reversal candle and a resumption of downward price movement. If this plan is executed, I will be waiting for a corrective pullback towards the support level at 0.90746 or the support level at 0.89999. Near these support levels, I will continue to search for bullish signals, expecting the price to resume its upward movement. In short, next week I anticipate the price to continue being pushed northward, focusing on the nearest resistance level, and then adjusting my strategy based on the market conditions.