Short/Sell USD/CHF

Updated: Sep 26, 2019

Reaction from FIB38.2 made shooting star on H1 and we entered sell position in USDCHF.

On H1 time-frame:

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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.

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Currency correlation: While USD-index rose today, CHF stayed stronger than all other major currencies like EUR, GBP, JPY etc.