USDCHF a simple approach to a critical area
Updated
I am sharing a simple chart with an identified downtrend channel for this pair that may have some interesting move in this critical area.
Swiss Franc has been always used as a safe haven as well as gold. After the improving conditions of covid wordlwide, specially in the USA I won't be surprised if we break the current downtrend channel and heading to the POC for this area at nearly parity 1:1. We closed one weekly candle above the important EMA 100 and in spite of hovering around it looks to me that is being attracted to EMA 200, that matches as well to the top trendline of the channel at 0.95ish.
Set a price alert at the top of the channel and wait for reaction there to open longs or shorts accordingly.
Swiss Franc has been always used as a safe haven as well as gold. After the improving conditions of covid wordlwide, specially in the USA I won't be surprised if we break the current downtrend channel and heading to the POC for this area at nearly parity 1:1. We closed one weekly candle above the important EMA 100 and in spite of hovering around it looks to me that is being attracted to EMA 200, that matches as well to the top trendline of the channel at 0.95ish.
Set a price alert at the top of the channel and wait for reaction there to open longs or shorts accordingly.
Trade active
USD has been hit on toda's session losing some won ground and losing the fight against EMA 100. Interesting to watch 0.925x area where EMA 10 & 50 are located. Currently trading in between EMAs (usually means mixed signals).
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