USDCHF// Crash Landing ✈️👨🏾✈️
DXY is currently bearish and EURUSD has just broken a key resistance level. I had previous analyses of both symbols possibly appreciating, however it is unlikely that both will. USDCHF is directly inversely correlated with EURUSD, which means that if EURUSD goes up...USDCHF must go down..
Price is currently about to hit the trendline, along with the previous resistance now support.
I would have liked to see price lose a bit of momentum on the approach but price is on the descent down. I will still be looking for rejection in the area for possible longs however there is a possibility of price breaking this level, find support at the based of the fib and maybe for a H/S pattern.
Price is currently about to hit the trendline, along with the previous resistance now support.
I would have liked to see price lose a bit of momentum on the approach but price is on the descent down. I will still be looking for rejection in the area for possible longs however there is a possibility of price breaking this level, find support at the based of the fib and maybe for a H/S pattern.
Comment:
Moved SL to 0.903
Trade closed: target reached:
Spiked out when I moved my stop, but just posting to complete the chart.
These analyses are my personal view on the market.
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).
