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forexwithfred

USD/CHF - Clear Correction & Impulse Move Incoming!

Short
U.S. Dollar / Swiss Franc (FX:USDCHF)  
forexwithfred  
FX:USDCHF   U.S. Dollar / Swiss Franc
Trend Analysis Harmonic Patterns Chart Patterns USDCHF USD usdchfidea usdchfshort Symmetrical Triangle pennantbreakout Technical Analysis
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trendanalysis harmonicpatterns chartpattern usdchf usd usdchfidea usdchfshort symmetricaltriangle pennantbreakout technicalanalysis
  • I've pinpointed where in the past price has respected this pennant chart pattern, indicating the breakout is indeed validated

  • DXY Dollar index is continuing to show bearish sentiment after reaching 100.0 level, indicating a further drop off

  • Previous demand zone has broken, confirming further bearish bias, although pullback may occur before an impulse is created

  • Let's wait for clear retest of broken demand and see how price action reacts! :)
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