On the Daily chart, the price is contained in a triangle and inside the 0.9256-0.9465 range and holds below both its MAs.
Further upside is expected on a breakout of the triangle, also supported by the triple bottom and fundamental reasons like the SNB which wants the pair at 0.9500 and technical corelations with the other pairs like EUR/USD.
Our trade setup is to buy on a upside breakout of the triangle at 0.9327 with a stop loss placed below the range and triple bottom and a target at 0.9545 near the next resistance.
On the H4 chart, the price is contained in the 0.9250-0.9466 range and in a downtrend channel, while holding below both its MAs and testing the 0.9250 range support.
A potential double bottom is forming at the base of the range.
Buy at the current price or after a rejection and close above 0.9265 with a stop loss below the range and a target at the middle and top of the range.
Daily (Short to Medium term)
Buy at 0.9327
Stop loss at 0.9232
Take profit at 0.9545
H4 (Short term)
Buy at 0.9230
Stop loss at 0.9185
Take profit 1 at 0.9301
Take profit 2 at 0.9355
Goldenschild Asset Management