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MujkanovicFX
Oct 17, 2019 9:35 AM

4 reasons to short USD/CHF right now Short

U.S. Dollar/Swiss FrancFXCM

Description

Hi traders, here're 4 reasons you should consider taking this very nice setup in USD/CHF. As always, let me know in your comments what you think.

1. Bearish wedge breakout to the downside, projecting a profit target to the lower 0.96xx levels

2. Retracement at the 61.8% Fib level

3. Weak US data lately, CHF possibly gaining from Brexit worries

4. Bearish RSI divergence on the daily chart

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Trade closed: target reached

50% closed in profit and rest moved to break/even
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