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theforexarmy

USDCHF approaching major resistance, prepare to sell

Short
U.S. Dollar / Swiss Franc (FX:USDCHF)  
theforexarmy  
FX:USDCHF   U.S. Dollar / Swiss Franc
USDCHF usdchfshort usdchfidea usdchfdaily usdchfnews usdchflong USD chf usdchfanalysis usdchf1hr usdchflongsetup usdchfsell usdchf!
7
2
usdchf usdchfshort usdchfidea usdchfdaily usdchfnews usdchflong usd chf usdchfanalysis usdchf1hr usdchflongsetup usdchfsell usdchf!
Sell below 1.0137. Stop loss at 1.0168. Take profit at 1.0063.
Reason for the trading strategy (technically):
We prepare to turn bearish below 1.0137 resistance (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance) for a further push down to 1.0063 support (Fibonacci retracement, recent swing low support).
Stochastic (34,5,3) is seeing major resistance below the 93% level and is currently displaying bearish divergence vs price, signalling a reversal is impending.
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