Short/Sell USD/CHF
- KeonConsultancy.com
- Sep 25, 2019
- 1 min read
Updated: Sep 26, 2019
Reaction from FIB38.2 made shooting star on H1 and we entered sell position in USDCHF.
On H1 time-frame:
On D1/daily time-frame:
It closed below trend predictor (red MA like line on chart) on closure of Sep 20 and remains well below. Target 50% of whole swing up on D1.
Risk: bearish setup fails if price erases yesterday's candle.
Currency correlation: While USD-index rose today, CHF stayed stronger than all other major currencies like EUR, GBP, JPY etc.
U.S PRESIDENT TRUMP SAYS THAT A TRADE DEAL WITH CHINA COULD HAPPEN SOONER THAN YOU THINK.
Hope of Trade talk gets strengthened, save haven currencies like JPY and CHF lose.
Nevertheless, I am still holding short position because USD/CHF has retested the broken trend line and may fall. I will close it if closing of daily candle appears to be above high of yesterday.