Saad-ElFayed

USDCHF - retesting preparing to break out

Short
FX:USDCHF   U.S. Dollar / Swiss Franc
The pair had almost a false break out of a weekly strong down trend and the 0.98800/0.99000 zone with a shooting star as a price action that's a clear short entry signal but the pair had a real strong up momentum and more likely to retest the 0.97700 before break the weekly down trend so we are taking our short to the strong support zone "0.97700/23.6% fibo retracement/edge of down sub-trend " and wait for another price action to go long a break throw that support zone is a sign for the end of the up trend momentum.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.