USDCHF testing major resistance, remain bearish
Sell below 1.0036. Stop loss at 1.0097. Take profit at 0.9935.
Reason for the trading strategy (technically):
We remain turn bearish below 1.0036 resistance (Fibonacci retracement, swing high resistance) for a push down to 0.9935 (Fibonacci retracement, swing low support).
RSI (34) is seeing resistance below the 66% level and now displays bearish divergence vs price, signalling a reversal is impending.
Reason for the trading strategy (technically):
We remain turn bearish below 1.0036 resistance (Fibonacci retracement, swing high resistance) for a push down to 0.9935 (Fibonacci retracement, swing low support).
RSI (34) is seeing resistance below the 66% level and now displays bearish divergence vs price, signalling a reversal is impending.
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