Possible short - but be cautious

OANDA:USDCHF   U.S. Dollar / Swiss Franc

I can see CHF taking the lead shortly with this one, although it has broken the downtrend resistance, I feel it's still being quite sluggish moving upwards. I would wait until the next drop to see how strong it is before shorting it. The possible reason for CHF weakening could be due to ongoing BREXIT talks. I would monitor this one very carefully and would urge not to invest in this pair just yet due to it's uncertainty. Having said that, I do believe that it will go short in the near future because I am not seeing too much movement on the uptrend. I see it reaching .9800 and consolidate thereabouts with potential further drops.
Great analysis! :)
+1 Reply
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