The USDCHF is giving us 2 options to be able to work with over until the end of the month. With the FOMC meetings ending with bad news to the BULLS there has been a broken triangle on the daily chart. However I would not look to do anything until the BEARS are able to show that they can push the price down below the .9900 level with a closed daily candlestick. At the moment the BULLS have been able to keep the price within this range. So I would look at this as follows
Option 1: BULLS hold: wait for the Stochastic to enter the BUY zone and target the 1.0120-1.0200 area
Option 2: BEARS win: wait for a test on the 2hr with a high price in the SELL zone around .9900 and target the .9760 area as take profit 1.
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Option 1: BULLS hold: wait for the Stochastic to enter the BUY zone and target the 1.0120-1.0200 area
Option 2: BEARS win: wait for a test on the 2hr with a high price in the SELL zone around .9900 and target the .9760 area as take profit 1.
If you agree PUNCH the LIKE button and UPPERCUT to FOLLOW button. Here at Carter Kyle Capital we are the Fighters of Financial Freedom helping 1 trader at a time.
What are YOU fighting for?
Trading FOREX on margin carries a high level of risk, and may not be suitable for everyone. Past performance is not indicative of future results. Carter Kyle Capital will not accept liability for any loss or damage directly or indirectly from reliance of information.
Trade active:
Target 1 has been reached stay tuned for updates
Comment:
Looking for a rejection off of the .9700 area again down to the .9550 area