Posted the chart maybe a little too late Long entry: 1.00191 SL: 1.00103 TP: 1.005
This is a very special pair, that has been behaving like the DXY, but with a major difference. It didn't break to new highs, but respected the Nov 2015 high. At the 0.985 level, there is a lot of resistance that can turn into support, as well the up trending support which dates back to May 2016. This trade has a natural 2:1 R/R ratio, which makes it even more attractive.
USD CHF long im bullish on the pair due to higher time frame. testing out this long
I'm going to watch to short this pair. It may continue to go down if it can't stand above red resistance zone. Try to find some good entries with reasonable stop loss.
Believe NFP will cause the USDCHF to rise in an uptrend to resistance level 1.0292 area, to test. Could break higher to 1.0330 by next week.
I find 2 "Wolfe Waves" in Aussie/Swissy 3H chart . It's time for short !!!
- good r/r ratio - strong confluence - fib - trendline - volatility - news coming out in 2 hours
USDCHF broke out of downtrend and targets 0.995.
as solely my opinion, short is more preferable as its still not being able to break the strong resistance
MA + Price action rejection. Limited risk, trade has 2 TL's to compete with if it is to move lower. Market must accelerate lower to prove itself. Either way risk is limited.