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USDCHF looks to be at an interesting point to me. I'm thinking of going long at 1.0216 (entry would be just above a resistance level at 1.0211, if it manages to break it) with TP at 1.0299 (another longer term resistance level) and a SL at the point I think I would be wrong, which to me is into the body of the last daily candle. At about a half of the ATR on the ...
With the break down finding support at expected levels and a bounce back to resistance, I think we could see a further move to the downside. I'm shorting this at current market price with a target of 0.71820, again at previous support levels. Nice 5:1 potential profit-risk ratio here.
These are only my opinions. Comments, questions and suggestions are very welcome!
Mainly technical analysis here, but I think the fundamentals support a break to the downside. I have an order in to short if it drops on opening with stops back above the channel support and the SMA 50, with limits set just above lines of support from earlier in the year. I'm hoping LIMIT 1 will be realised quite quickly, and looking to buy back 50% there, with ...