USDCHF Potential Long Position (4Hr Timeframe)
• Monthly- breakout from bullish trend
• Weekly- MACD about to cross and bullish engulfing candle signal bullish bias this week
- Last week was retest of breakout of daily channel
• Daily- bearish spinning top, trend could have found support at 61.80% fib level
- Inverted Head & Shoulders pattern
• 4 hour- inverted bullish hammer with potential MACD crossover for bullish move
• Verdict: Long bias which I look to take once trend breaks past 0.00% fib level
• Fundamentals; US economic data Thursday
• Weekly- MACD about to cross and bullish engulfing candle signal bullish bias this week
- Last week was retest of breakout of daily channel
• Daily- bearish spinning top, trend could have found support at 61.80% fib level
- Inverted Head & Shoulders pattern
• 4 hour- inverted bullish hammer with potential MACD crossover for bullish move
• Verdict: Long bias which I look to take once trend breaks past 0.00% fib level
• Fundamentals; US economic data Thursday
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