On the daily chart the price began its decline after it touched the daily key level. The price has pulled back to the 50% fib level and has formed a bearish flag on the 4h chart. I will take another short right here.
Good luck !
Expecting a flat correction on this pair with the C wave starting soon. We are in a longer term uptrend though, so i will be looking for buys if the price gets to the 1.23-1.235x area.
Swiss franc looks strong to me for the next couple days so ill be looking to buy CHF in other pairs like Eur/Chf or Chf/Jpy.
My FX portfolio currently consists of :
- 2Long x USDJPY @ 106.8; 2Short x GBPJPY @ 151.2 (dynamic hedge for long UJ); 2Short x GBPUSD @ 1.4570. I will add to my short GBPUSD holdings if i can get a similar price & I may add to short GBPCHF or EURCHF downside if markets make a turn for the worst as IMO CHF denominations are under-priced relatively (as discussed...
