Is it time for the USDCHF to head lower?
Let's look at this pair from a technical perspective.
To understand the direction of a pair, we have to first look at the higher timeframes. The monthly, weekly and daily timeframe suggest that this is a downtrend.. It's not a matter of where the trend is headed, because obviously, it's a downtrend..
Since we "know" what trend this is and where it could lead, our job is to look for trading opportunities in this direction. Our job is to SELL.
Do we just wake up and sell? Well, no. We all have our entry patterns, so we do well to employ such methods as we look to trade USDCHF.
We can clearly see reacting to the key level around 0.87000. If price does not violate this key area, then we can be "sure" this could be a lower high. If this level does hold, then price is likely to trade lower into 0.84000.
Let's look at this pair from a technical perspective.
To understand the direction of a pair, we have to first look at the higher timeframes. The monthly, weekly and daily timeframe suggest that this is a downtrend.. It's not a matter of where the trend is headed, because obviously, it's a downtrend..
Since we "know" what trend this is and where it could lead, our job is to look for trading opportunities in this direction. Our job is to SELL.
Do we just wake up and sell? Well, no. We all have our entry patterns, so we do well to employ such methods as we look to trade USDCHF.
We can clearly see reacting to the key level around 0.87000. If price does not violate this key area, then we can be "sure" this could be a lower high. If this level does hold, then price is likely to trade lower into 0.84000.