Good Day Traders !! On this pair we just completed the 5 waves of the impulse corrective continuation pattern on the monthly timeframe and we just started the ABC corrective wave. On the Weekly timeframe we have a the price that started creating a rising Wedge and this is why we expect it to retrace to the neckline of the H&S and begin his next impulsion. From a daily perspective we have a H&S formation and we expect the price to go retest the neckline before the continuation to the upside.
From an institutional perspective we can see that we have a pretty strong CHF since we added more than 4500 long position on the last report in addition to hedge funds closing 750 short position.On the USD we are seeing that the $ is showing weakness overtime since we had only -2300 Net position back in November and now we are sitting at -14K Net position.
Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset.
Trade safe !!!
From an institutional perspective we can see that we have a pretty strong CHF since we added more than 4500 long position on the last report in addition to hedge funds closing 750 short position.On the USD we are seeing that the $ is showing weakness overtime since we had only -2300 Net position back in November and now we are sitting at -14K Net position.
Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset.
Trade safe !!!
