OANDA:USDCHF   U.S. Dollar / Swiss Franc
Overall this pair I believe still has further more downside potential. Now that we’ve rejected some key levels & broken trendline /structure, this makes my bias even stronger for sells on this pair.

After such a strong impulse move down. Let’s wait for price to retrace to the 50/61.8 fib level to get a retest of That broken trend-line before considering shorting this pair.

Or alternatively wait for price to break daily resistance level and grab a entry on the retest of that level for a bit safer entry.

Comments

When you expecting it to go to that area
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@Xspot, I have no idea as to when exactly. However I’ll be monitoring price action on this pair & will post updates when price gets closer to the area of interest.
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Xspot Xspot
Daily showing strong support in that 98-98200 level in my opinion but yea I’m thinking the same
+1 Reply
Agreed hopefully that area holds & push price up for that retest. But yeah You could possibly catch a long position on a smaller time frame.
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Xspot Xspot
Yea I believe we’re you highlighted for a short will give it enough steam to break the that 98-98200 level
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