USDCHF analysis 28.01.2020

The currency pair is trading in the range of the round important level 0.9700. The daily timeframe shows that the pair has been in the range of historical lows since mid-2018. Also, on the daily timeframe, the right shoulder of the inverted head and shoulders figure is probably forming now. A visual analysis of the daily timeframe makes it possible to assume that an upward movement is likely to begin. Since the purchase swap is positive, in case of a successful development of events, we will earn not only on the price difference, but also on the swap.

Trading recommendations:

Buy above the round secondary level of 0.9720.

Stop loss under the round secondary level is 0.9680.

Target levels: 0.9750 (close the current order and move to breakeven); 0.9750; 0.9818.