USDCHF has climbed for the 6th consecutive days but is seen exhausted as it is about to reach the key supply zone 1.00.
The dollar is also seen resisted as it reaches key level 96 and is prone to a retracement anytime.
USDCHF has formed a rising wedge and is nearing the end of the formation which will highly cause the price to break down and fall.
Here is Long area based on my daily experience from my members.
Classic Volume setup for long trade with standart Risk reward.. The biggest volume cluster indicated buying activity.
Did you know that usdchf is reversely similar to the pair of EURUSD ?
10 pips profit
12 pips stoploss
Reasons for Sell:
-Price has been in an extended uptrend for 28 days. 6 of those days accounted for a retrace in the current uptrend.
-for the past 8 days price has failed to break above 0.99870 which is also December 14th high.
-Rsi is showing divergence on H4 charts indicating buying pressure is running out.
-Price has formed a double top and could be coming up ...