From the weekly timeframe, price just broke out from the bearish flag, and now the retracement.
As you all know, after an impulse comes a correction. The correction has come back to the broken trendline level.
The weekly low has been created and it will be the best place to take the buy back the monthly highs and possibly beyond.
Be careful NFP today.
USDCHF has been in a Downtrend channel for quite some time, (more like a bullish flag on the daily)
A triangle formation on the weekly timeframe, and price just touched down trend line..
Price just broke out from the down trendline. (Bullish flag)
From the basic concept of smart money concept, there needs to be filling of void orders (imbalance) before the market continues it's original direction. We can call it correction.
The aussie/swiss franc has been on a correction phase until now.
Price has tapped Into a daily demand zone.
We moved to our 4hr to get out order block.
NZDCHF has just started a new trend on the daily timeframe and
This is the send touch to the trend line.
With COT data showing the kiwi is in a strong buy territory and the swiss franc
A less weaker pair, a rally is expected to form new highs.
