From the daily perspective, price is still moving inside the support zone and resistance zone, it does not have any opportunities for this pair unless the price will break out one of the directions.
From the COT perspective, hedge funds are still bullish bias on CHF, and from the longer-term perspective, the total of long positions (13k) is greater than the total of short positions (4.9k), and their net position on CHF has become stronger and stronger (previously 4k and now 8k), so in this case, USDCHF may push to the downside.
The proper way to approaching this pair should be waiting for the daily price break and close either one of the directions I identify just now if the price manages to do it and retest, then I switch to 4H to monitoring the long/short confirmation, if there have shown one of the valid rules of me, I will take a nice position in UC with a good risk-reward.
Remember, always react to the market instead of predicting the market, this analysis is based on technical and COT perspective.
Comment down below and let me know your thought.
From the COT perspective, hedge funds are still bullish bias on CHF, and from the longer-term perspective, the total of long positions (13k) is greater than the total of short positions (4.9k), and their net position on CHF has become stronger and stronger (previously 4k and now 8k), so in this case, USDCHF may push to the downside.
The proper way to approaching this pair should be waiting for the daily price break and close either one of the directions I identify just now if the price manages to do it and retest, then I switch to 4H to monitoring the long/short confirmation, if there have shown one of the valid rules of me, I will take a nice position in UC with a good risk-reward.
Remember, always react to the market instead of predicting the market, this analysis is based on technical and COT perspective.
Comment down below and let me know your thought.