USD/CHF Short Position
Looking at the daily chart, USD/CHF Broke the rising wedge and retested it with a bearish flag. We managed to capitalize on this trade exactly on the retest with our premium members.
On the 1H chart, the bearish flag was broken and now is being retested. I expect to see more downside for USD/CHF since DXY and US10Y both reached critical zones and until now haven't managed to break above them.
Our first target is the 100% Fibonacci Extension at 0.9152. Breaking it will push USD/CHF towards new lows to retest 0.9102 and 0.9032 which is the beginning of the rising wedge and the 200% Fibonacci Extension.
On the 1H chart, the bearish flag was broken and now is being retested. I expect to see more downside for USD/CHF since DXY and US10Y both reached critical zones and until now haven't managed to break above them.
Our first target is the 100% Fibonacci Extension at 0.9152. Breaking it will push USD/CHF towards new lows to retest 0.9102 and 0.9032 which is the beginning of the rising wedge and the 200% Fibonacci Extension.
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