alexp

Reversal confirmed for swiss franc

Long
FX:USDCHF   U.S. Dollar / Swiss Franc
286 views
0
A major trend reversal has been just confirmed for swiss franc in its first attempt to form complete a bull bar above EMA 20. If it triggers above 0.9387 - it should pick up some bear stops and move towards major resistance near 0.9412 area. As we have a possible major reversal in action, the resistance is likely to be broken and the move up will continue. The target is 1.5 of risk which is just below the today's daily bar.

Comments

Not triggered. Pls ignore. Inability to break beyond EMA signals that trend is still here and new low is likely to be formed (in accordance with my previous idea). It makes sense to go short with a small target as either higher low or lower low is likely to be formed soon
Reply