The USDCHF comes into resistance level around 0,9820 - 09840 with strong negative divergence on the RSI which means that there is NO power in moving higher and a strong possiblity to change direction. Also the Candlesticks give some exhausting singals on the 1 hour chart.
Levels around 0,972 - 0,968 and 0,964 can give some support.
Levels around 0,972 - 0,968 and 0,964 can give some support.
Comment:
This looks like a false move above resistance level, Negative Divergence on RSI is still there. Now also occurring on higher timeframes (2 Hour, 4 Hour) I expect now that USDCHF will move lower. First target is 0,9715 - 0,9685!
Trade active:
Short on: 0,9840
Stoploss; 0,9880
Profit Target: 0,9715
Risk: 0,004
Reward:0,0125
R/R ratio: 3,125
Stoploss; 0,9880
Profit Target: 0,9715
Risk: 0,004
Reward:0,0125
R/R ratio: 3,125
Trade closed: target reached
