Cangaceiro

USDCHF Inverted Cup&Handle check my previous ideas

Short
OANDA:USDCHF   U.S. Dollar / Swiss Franc
Hi friends hit the like/follow button to motivate me to continue. Check my previous ideas to keep up to date.

We went over USDJPY and EURUSD that have move similar, now USDCHF is the pair they’re opposite trend. Now this is not always 100% due to volatility and Fundamentals impact .

We can observe the inverted cup and handle was respected, also we can see how the trend was opposite from EURUSD and USDJPY .

We can expect further downtrend to support area . But before the handle in this case since it is inverted, can be expected to uptrend to Fibonacci levels before it pushes down.

If it breaks further confirmations would be necessary to determine the next position, for now we can continue to see downtrend to support area .

Be ready if the time trend bounces from support back to fibonacci levels.

What are the strategies I use? A combination of strategies: Confluence; Pair Correlation; Naked Forex.

The tools and indicators I used: SMAs ; Pivot Standard; Fibonacci Retracement tool.

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