The third wave for USDCHF is chance to earn in the trend

  • Jun 21 2021
  • by
  • Analyst AZA
The third wave for USDCHF is chance to earn in the trend

The third wave for the USDCHF is the last chance to earn in the trend

The growing trend in the USDCHF currency pair does not show strong signs of a reversal, unlike other currency pairs, which have changed greatly in price and began to return to their original positions. The strength of the bulls is observed in this trading instrument and there is still potential for further price growth. Given that the price in this rally has passed 280 pips, our target of 60 pips in this trade is quite achievable. The middle line came out of the MACD histogram and this shows us that trend momentum is being lost, but this is not a reversal yet. The third wave is visible on the chart, which we will use to open an order. Today's strategy is built on the breakout of the nearest maximum of 0.9240. At the flat-level 0.9300, where our Take Profit is located, the price will most likely receive additional resistance, so taking profit on this trade would be the right step.

Symbol: USDCHF
Order Type: Pending Order - Buy Stop
Entry Price at 0.9240
Take Profit at 0.9300
Pips Earning: 60

The profit can be $649.32 if the trading volume of 100000 USD (1 Lot).


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