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MEX_Exchange
12 jan 2018 01:54

USDCHF testing major resistance in a descending channel, bearish Kort

U.S. Dollar/Swiss FrancFXCM

Beskrivning

Sell below 0.9762. Stop loss at 0.9787. Take profit at 0.9708.
Reason for the trading strategy (technically):
Price is testing major resistance at 0.9762 (Fibonacci retracement, horizontal overlap resistance, descending channel momentum) and we expect further bearish action from here to push price down towards 0.9708 support (Fibonacci extension, horizontal swing low support)
RSI (34) sees a descending resistance line provide bearish momentum in pushing price down.
Mer