USDCHF - Intraday - We look to Sell at 0.9865 (stop at 0.9895)
Trades at the highest level in 12 days. There is no clear indication that the upward move is coming to an end. Intraday, and we are between bespoke support and resistance 0.9795-0.9865. The move higher is mixed and volatile, common in corrective sequences. The medium term bias remains bearish....
Rising wedge recently been broken, support seems strong but not as strong as the resistance. Expecting either a possible right shoulder to create a head & shoulders pattern or we may just get a straight break from this support zone. Down to fill the range
Bear run started on 01/08 with a pullback to 0.98 before what we could see as a continuation to the downside. Gold seems to be showing resistance at psycho 1500 mark and DXY resisting FIB level after having just broke 98 last week.
F + P + G
We previously sold this pair at 50SMA if you look through the analysis available on our profile; it looks like the downside is due to continue after ending last week with a hammer at the Fibonacci levels highlighted. April 2018 low is the overall target.