USDCHF - Daily - Watch the trend resistance.

FX_IDC:USDCHF   U.S. Dollar / Swiss Franc
This pair is heading towards the test of the downward trend. What is also interesting, that I believe that the downward pressure is diminishing on this pair and we are positioning for a nice move upwards. Now, I have been wrong a few times on this pair, especially, when I thought that it will form a Head and Shoulders (23.06.2017 post).

By looking at the key levels on the upside, I think this potential future move is in line with the Elliott wave count. Probably, a lot of people won't agree with me here, but I think this pair is one to watch.

I think it will either touch the trend line , retrace and then it will test it again and brake it to the upside. Or it will rush through that resistance trend line straight away, head higher, retrace to the same trend line and then bounce of it to the upside.

But this is just an idea.

Keep an eye on the price action.
Jul 19
Comment: It didn't work out.


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