USDCHF - STRONG SELLING PRESSURE
In this post I will show you my view on USDCHF pair. The pair has broken a multi year trend line and now establish it self on a down trend. The price went as low as 0.970 but it recovered to as high as 0.9950 and now it is at 0.9838.
I believe it is just a retracement and now I am looking for the price to move lower. Beside that, there is a head and shoulder pattern on a lower time frame, 4 Hour chart, suggesting that the price might move lower
The price has broken the neckline and it is a very good entry level.
I prefer to sell this pair, expecting the price to move lower targeting 0.97.
Good luck, happy trading!
Chart Disclaimer : This is not advice or recommendation to trade. It is pure educational and general information only. Do your own research before you decide to buy/sell the markets. Be aware of the risks.