SELL USDCHF??????
We are now approaching a Weekly supply/sell zone starting at 0.975 where we had a huge sell off before. This is the first test/touch of this zone and given it has only taken 2 weeks to get back to this level from the last low we are highly likey to get a SELL off from here again.
As you can see in the image above we have a small Daily SUPPLY/SELL zone between 0.975 -0.979 this is a good short SELL trade to target the 0.965 - 0.958 if this happens price may bounce back up well into the weekly zone then selling off heavily creating a new weekly low.
I will look for short signals above 0.975 with a stop loss above 0.98 and profit target around 0.96 and long term SELL position will start positioning into a BIG position inside the zone to target a the long term weekly target starting at 0.93 this is the weekly zone were price took off from this year to cause the Yearly high we will go back down here. (SEE IMAGE BELOW)
Hope you enjoyed this breakdown
As you can see in the image above we have a small Daily SUPPLY/SELL zone between 0.975 -0.979 this is a good short SELL trade to target the 0.965 - 0.958 if this happens price may bounce back up well into the weekly zone then selling off heavily creating a new weekly low.
I will look for short signals above 0.975 with a stop loss above 0.98 and profit target around 0.96 and long term SELL position will start positioning into a BIG position inside the zone to target a the long term weekly target starting at 0.93 this is the weekly zone were price took off from this year to cause the Yearly high we will go back down here. (SEE IMAGE BELOW)
Hope you enjoyed this breakdown
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