WIth USDCHF breaking its bearish trendline, the pair is gathering momentum for a short term rally. Any decline towards 0.97996 will likely be a good entry level to go long
Buy FX:USDCHF
Tendency: Consolidation
Indicators: Bullish candlestick close, Exponential Moving Average
Oscillators: Stochastic .
Fundamental: Bullish to neutral dollar, Strong dollar
R:R = 2.78
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USD/CHF potential long opportunity, fibs coming into play with a few other confluences. I believe A lot of retail traders will be looking to go short here at this level. I believe the institutions will drive price up and this trend will continue. with all the trade deal uncertainty I will be managing my position closely
The USDCHF, also known as the “swissie” is the fifth most traded currency in the Forex market. It is considered to a safe haven pair due to its stability and neutral character of Switzerland and is a reserve currency used by markets worldwide.
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