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LegionQ8
Aug 8, 2023 10:14 AM

Swiss Franc can fall to support line of upward channel Short

U.S. Dollar/Swiss FrancFXCM

Description

Hello traders, I want share with you my opinion about Swiss Franc. Observing the chart, we can see that the price a few moments ago price traded inside a big range, in which it reached the top part of the range, bounced down, and started to decline. Price declined to the 0.8950 - 0.8900 resistance area, but soon rebounded back and some time traded near the 0.8950 resistance level. later swiss Franc broke the resistance level and made a strong downward impulse below the 0.8570 support level, which coincide with the support area. Also then price started to rise inside the upward channel, where it rose higher of 0.8570 support level and at the moment continues to trade there. I think that the Swiss Franc can rise a little and then start to decline to support line of upward channel. For this case, set up my target at the 0.8640 level, which coincides with the support line of the channel. Please share this idea with your friends and click Boost 🚀
Comments
TheFxAce
Strong short strategy. How do you factor in interest rate impacts?
KronFX
nice work mate
Setupsfx_
Keep it up mate love your work
ArmanShabanTrading
Beautiful setup!
JoeChampion
Good work fella!
VincePrince
Sophisticated technicals.

Thank you for sharing.
pejman_zwin
Made me follow up.🖋
FieryTrading
Beautiful setup. Thank you!🔥
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