*USD/CHF Trade Idea: Bullish Trend Continues*

 USD/CHF Trade Idea: Bullish Trend Continues.

The USD/CHF currency pair has been experiencing a bullish trend, driven by broad-based US dollar buying. As of September 2, 2024, at 20:27, the pair is trading above the key level of 0.8500, with a high of 0.85371 and a current price of 0.85128.

*Technical Analysis*

The 4-hour chart reveals that the pair is trading above both the 34 and 55 Exponential Moving Averages (EMAs), indicating a strong bullish trend. The near-term resistance is situated around 0.8545, and a breach above this level could potentially target 0.8590/0.8625.

The intraday trend remains bullish as long as the support level of 0.8474 holds. If the pair violates this support, it may drag down to 0.8460/0.8435/0.8400/0.83830/0.8365 (61.8% fib projection)/0.8340.

*Indicator Analysis*

The Commodity Channel Index (CCI) with a period of 14 is currently bullish, indicating a potential buying opportunity. The CCI with a period of 50 also confirms the bullish trend. Additionally, the Average Directional Movement Index (ADX) is bullish, further supporting the upward momentum.

*Trade Idea*

Based on the technical and indicator analysis, it is recommended to buy USD/CHF on dips around 0.84980, with a stop loss (SL) around 0.8474 and a take profit (TP) target of 0.8545. This trade idea is in line with the overall bullish trend and offers a potential profit opportunity.

*Conclusion*

In conclusion, the USD/CHF currency pair is experiencing a strong bullish trend, driven by broad-based US dollar buying. The technical and indicator analysis supports a buying opportunity on dips, with a potential profit target of 0.8545. However, it is essential to monitor the support level of 0.8474 and adjust trading decisions accordingly.