USDCHF - Market Turned Bearish, Retracement Completed
USDCHF has been ranging for close to 2 weeks, and the price has chosen to break below the previous rising trendline as well as below the range.
The dollar has turned sluggish again and is most likely to retrace lower, a plus point to short USDCHF.
The Swiss Franc is seen performing stronger as compared to last week, thus a reason to buy CHF.
Lastly, the structure of USDCHF has turned bearish, and thus it is just a natural choice for me to short USDCHF after 2 waves of retracement has been completed @ 618.
The dollar has turned sluggish again and is most likely to retrace lower, a plus point to short USDCHF.
The Swiss Franc is seen performing stronger as compared to last week, thus a reason to buy CHF.
Lastly, the structure of USDCHF has turned bearish, and thus it is just a natural choice for me to short USDCHF after 2 waves of retracement has been completed @ 618.