What's up traders, here we have USD/CHF, with a breakout opportunity on the 4H chart.
This is a great opportunity with an over 1:3 Risk to Reward.
I am expecting USD/CHF to make an up move to 1.0020
Bare in mind that price needs to have a successful breakout for this to be a valid trade. So it is important you indeed use this analysis, but use your own to make a trading decision.
Our AUD/USD trade is in good profit, and I will be adding to this position. See analysis on my page for updates.
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USD/CHF was setting up well for a nice up move, however Dollar plummeted thus, affecting this pair dramatically.
With the Dollar tumbling so dramatically, it isn't smart to be a buyer for the moment.
Have taken this trade off of the watch list for now, and let Dollar stabilize before looking into this trade again.
Follow this link to correspond with the above update:
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Price is trading down very well. With Dollar in a decisive trend it makes logical sense to assume a new trend may be taking place in this pair, at least for the short term.
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Price has had a great recovery today most likely due to the stabilization of the Dollar.
I will be reanalyzing the chart shortly and looking for a long opportunity!