USDCHF Sell Opportunity

USDCHF Sell Opportunity

U.S. Dollar/Swiss Franc
FX:USDCHF

DLavrov

The price bounces from the resistance zone formed by SMA100 and 0.94000 resistance level . RSI confirms the price reversal. MACD gives a bearish signal. If the price breaks the uptrend line, we’ll get confirmation for further downward movement and a new sell signal. Entry is below SMA50 and it’s 0.93450 level. Stop orders must be placed above the local swing high at 0.94150 level. The main profit target is 0.92600 level. Alternative variant: if the price breaks the resistance zone , we’ll get a trend reversal signal. It will give us a buy opportunity. Pending orders will be placed above 0.94650 level with stop orders below the local swing low and profit targets at the resistance levels.
Source: TW DLavrov

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