As i published idea to buy EURUSD and USDCHF and EURUSD have big negative correlation - so I sell USDCHF and recommend to to this to all my clients. Why? USDCHF has sell level at 1.0042 and price is placed at the high of very big daily range started from October 2010. So i try catch profit to sell USDCHF at 1.0035 SL - 1.0072 and TP - 0.9900 Risk Reward Ratio -...
This set-up is a short 2618 trade but since the market was so kind to give us a triple top instead of only a double top, I call it 3618. Enter short from the 61.8% retracement at 1.02341 for a move back down to previous lows.
sell @0.99010 strong weekly resistance at 0.99 (red line) providing upside protection.
Price has rejected the weekly trend-line with a hammer candle indicating a sell opportunity. The Swiss has a safe haven status and as this week has a lot of event risk and non farms for the Dollar it is likely that investors will hedge the Swiss as a proxy for Gold against the upcoming risks associated to the Dollar.