USDCHF Technical Analysis 2014, 16.11 - 23.11: Ranging Bullish With 0.9700 Psy Resistance

D1 price is on ranging market condition within primary bullish to be above Senkou Span A line which is one of the border of Ichimoku cloud/kumo.

W1 price is on secondary ranging within primary bullish:

• Tenkan-sen is above Kijun-sen for bullish
• Nearest resistance level is 0.9741
  
• Nearest support level is 0.9353
  

MN price is on primary bullish market condition with secondary ranging:

• Chinkou Span line of Ichimoku indicator is crossing the price on open bar from below to above for good possible breakout
  
• The price is breaking Senkou Span B line of Ichimoku indicator for breakout
• Price is breaking 0.9683 resistance on open bar for breakout as well
• As USDCHF is the leading pair concerning EURUSD/USDCHF situation so we may expect the breakdown/downtrend for EURUSD in few coming months
  

If W1 price will break 0.9741 resistance level on close W1 bar so the primary bullish will be continuing.
If not so we may see the bullish with ranging.

• Recommendation for long: watch W1 price to break 0.9741 resistance for possible buy trade
• Recommendation to go short: N/A
  
• Trading Summary: bullish
  

SUMMARY : bullish