it seems USDCHF uptrend is weak.
RSI shows divergence.
price action from Feb 12:50 looks like incomplete ABC corrective structure, which may also evolution to new downtrend.
the fact that market rejected breakout to the upside, which occurred a few hours ago, supports this assumption.
on the other hand, market is not moving to the downside, anticipating US retail sales report. price might have formed an extended bullish active wave structure.
watch for breakout!
it may go either way.
I'm slightly biased to the downside scenario. breakout of blue line with upward slope should trigger sell pressure. (now it serves as support)
breakout beyond 1.0096 should resume upward trend.
RSI shows divergence.
price action from Feb 12:50 looks like incomplete ABC corrective structure, which may also evolution to new downtrend.
the fact that market rejected breakout to the upside, which occurred a few hours ago, supports this assumption.
on the other hand, market is not moving to the downside, anticipating US retail sales report. price might have formed an extended bullish active wave structure.
watch for breakout!
it may go either way.
I'm slightly biased to the downside scenario. breakout of blue line with upward slope should trigger sell pressure. (now it serves as support)
breakout beyond 1.0096 should resume upward trend.
Trade active:
We've got breakout to the downside.
Comment:
I went short 2 hours ago.
Trade active:
here we go
US retail sales scared investment society.
expected bigger structure - 3 way move to the downside.
as I said it may be a new downtrend.
targets: 0.992
US retail sales scared investment society.
expected bigger structure - 3 way move to the downside.
as I said it may be a new downtrend.
targets: 0.992
Comment:
USDCHF short-term overview.
looks like new mid-term downtrend has been established.
assumed pattern is leading diagonal (12345 - green)
now a-b-c correction is anticipated.
however, price still stays inside downtrend channel and may resume falling without sizable correction.
breakout above that channel should confirm described a-b-c correction scenario.
looks like new mid-term downtrend has been established.
assumed pattern is leading diagonal (12345 - green)
now a-b-c correction is anticipated.
however, price still stays inside downtrend channel and may resume falling without sizable correction.
breakout above that channel should confirm described a-b-c correction scenario.