From the daily perspective, USDCHF has already breakout of the ranging the market, and now we may see a continuation to the downside on USDCHF.
From the COT perspective, hedge funds are bullish bias on CHF, more longs opened that short, in this case, USDCHF may push to the downside.
The proper way to approaching this pair is to waiting for the price to reach the daily resistance. If the price is managed to do this, I will switch to 4h perspective looking for the short confirmation, if the 4h will provide to me one of my rules, then I will take a nice short on this pair with a good RR. Otherwise, the price may break and close above this structure area, and continue in a ranging environment.
Remember, always reactive to the market instead of predictive it, this analysis is based on the technical and COT perspective.
Comment below let me know you thought on USDCHF.
From the COT perspective, hedge funds are bullish bias on CHF, more longs opened that short, in this case, USDCHF may push to the downside.
The proper way to approaching this pair is to waiting for the price to reach the daily resistance. If the price is managed to do this, I will switch to 4h perspective looking for the short confirmation, if the 4h will provide to me one of my rules, then I will take a nice short on this pair with a good RR. Otherwise, the price may break and close above this structure area, and continue in a ranging environment.
Remember, always reactive to the market instead of predictive it, this analysis is based on the technical and COT perspective.
Comment below let me know you thought on USDCHF.