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USD/CHF trading idea | July 4, 2022

Updated: Jul 4

Having seen no significant bullish move up from the neckline, I can say that it's at least gonna touch the 52 week moving average even if it will not complete the classical target of the double top.




The candle of Friday looks feeble with a long wick to the upside, USD/CHF is trading below the MACD predictor, RSI is staying below 50. Therefore, the pair clearly stays in the downtrend.




The pair moved up out of the down-trending channel on Friday, it returned back down having made an evening doji star candle pattern. I am targeting 980 points (98.0) pips. If the pair stats moving, I will exit if an H4 candle will close above Friday's high.




Please note that Keon Consultancy uses these ideas in Forex Account Management / Fund Management; however, it doesn't post all the ideas used in trading.