USDCHF: The top isn't in most likely. 1D MA200 ahead.

USDCHF has been rising non-stp since the July 18th bottom on 0.85555 (S1). The 1D outlook is on straight bullish technicals (RSI = 61.656, MACD = 0.005, ADX = 40.729) and as the 1D MA50 has been turned into Support, we expect the rally to peak within the 1D MA200 and the inside LH trendline. That would be as close to the top of the twelve month Channel Down as possible.

We will wait until a LH trendline is formed on the 1D RSI, which preceded every sharp selling and was the ideal short signal. Target S1 (TP = 0.85555).

Prior idea:


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