USDCHF Breaking down from Head and Shoulders
USDCHF - Intraday - We look to Sell
A bearish Head and Shoulders has formed.
Short term MACD has turned negative.
A break of yesterdays low would confirm bearish momentum.
We look to sell rallies.
A move through 0.9160 will confirm the bearish momentum.
We look for losses to be extended today.
Rallies continue to attract sellers.
Trades with a bearish descending triangle formation. Offers ample risk/reward to sell at the market.
Short term MACD has turned negative.
We look for only a temporary move higher.
Resistance: 0.9170 / 0.9200 / 0.9220
Support: 0.9170 / 0.9140 / 0.9125
Signal Centre
A bearish Head and Shoulders has formed.
Short term MACD has turned negative.
A break of yesterdays low would confirm bearish momentum.
We look to sell rallies.
A move through 0.9160 will confirm the bearish momentum.
We look for losses to be extended today.
Rallies continue to attract sellers.
Trades with a bearish descending triangle formation. Offers ample risk/reward to sell at the market.
Short term MACD has turned negative.
We look for only a temporary move higher.
Resistance: 0.9170 / 0.9200 / 0.9220
Support: 0.9170 / 0.9140 / 0.9125
Signal Centre
Comment:
Price found resistance at 0.9200 which triggered our short trade profit was taken!
Trade closed: target reached
