Last drop of USDCHF before Upsurge for June
Multi Timeframe Analysis
Hint: **Look only for sell setups**
Recommendation:
The 21- period daily and weekly RSI hover below 40 indictating further losses. The price should continue to drop mid term. Allow price to retest the 50% to 78.6% fibonacci level on the 4H chart then take a short position with target TP at the 27.2% fib.
Be aware that price is closing into to strong weekly support so a correct upside is possible in 2 weeks.
Take a market order position upon the confluence of valid entry rules on the 4H or 1H chart.
Hint: **Look only for sell setups**
Recommendation:
The 21- period daily and weekly RSI hover below 40 indictating further losses. The price should continue to drop mid term. Allow price to retest the 50% to 78.6% fibonacci level on the 4H chart then take a short position with target TP at the 27.2% fib.
Be aware that price is closing into to strong weekly support so a correct upside is possible in 2 weeks.
Take a market order position upon the confluence of valid entry rules on the 4H or 1H chart.