Triple-Top Sell For The USD/CHF

FX:USDCHF   U.S. Dollar / Swiss Franc
The strong early-week performance from the USD/CHF has brought parity into view once again. A defined triple-top pattern on the daily time frame (.9990-.9985) offers a good trade location to the short.

Here is the plan:

1)Entry: Sell, .9985
2)Stop Loss: 1.0026
3)Profit Target: .9944
4)Risk vs Reward Ratio: 1/1

The location of the triple-top illustrates resistance being present just beneath 1.0000. In the event price tests this level yet again, a sell will capitalize on another rejection of parity.


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