Potential drop for USDCHF - Daily RSI overbought
Updated
Big opportunity for selling USDCHF. As you can see, the pair has reached a resistance in the daily chart, and the pin bars are showing this resistance. Also, the RSI is clearly overbought and the MACD is near a potential bearish cross.
Target is on the lower trend line of the current formation. However, I would consider to take profits before, perhaps around 1.0025, as economic data release could put a break on this move, if it plays out.
Target is on the lower trend line of the current formation. However, I would consider to take profits before, perhaps around 1.0025, as economic data release could put a break on this move, if it plays out.
Trade active
So far so good, breaking the 50EMA in the 4h chartTrade active
Moving SL for a free non -risk trade :)Trade closed: stop reached
The FED statement 2 days ago had too much impact for the dollar. I will re evaluate again and perhaps wait for this last move to lose momentum.Trade active
After closing a 4h candle pin bar, open again trade at 1.0267.TP1 - 1.01093
TP2 - 1.00702
Trade closed manually
Both targets, TP1 and TP2 hit :)
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