Others/Technical Analysis/Trade Ideas

USD/CHF: Remember what I said this morning about the topping formation!

Have a look at the chart in the members section which shows a potential topping formation. The pair was trading at .9765 at the time and I certainly didn’t expect such a massive shake-out down to the neckline at .9600.

Bulls like myself should watch this formation closely and consider exiting and reassessing if indeed it breaks below .9600 and holds any subsequent tests.

  1. I will hold usd/chf longs which I bought today since I feel euro is getting weaker now and we may not get intraday swings which we are getting since 2 days

  2. The trendline is broken at 0.9612 on the downside so it actually targets 0.9558. even if it were to go there I think risk reward is still in favour of bulls.I am expecting 0.9720

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