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MEX_Exchange

USDCHF approaching major resistance, prepare to sell

Short
U.S. Dollar / Swiss Franc (FX:USDCHF)  
MEX_Exchange  
FX:USDCHF   U.S. Dollar / Swiss Franc
Trend Analysis Harmonic Patterns Chart Patterns USDCHF USD chf usdchfanalysis usdchfshort usdchflong usdchfidea Forex forextrading
5
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trendanalysis harmonicpatterns chartpattern usdchf usd chf usdchfanalysis usdchfshort usdchflong usdchfidea forex forextrading
Sell below 0.9675. Stop loss at 0.9706. Take profit at 0.9578.
Reason for the trading strategy (technically):
Price is approaching major resistance at 0.9675 (Fibonacci extension, Fibonacci retracement, horizontal swing high resistance) and we expect to see a strong reaction from this level to push price down to at least 0.9578 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is approaching our 100% resistance once again where we expect a strong reaction from.

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