USD/CHF: Time to Sell Amidst Global Events
👋Good day, traders!
📉Due to the events in Israel since the beginning of October, USD/CHF has lost more than 3.5% in value and recently broke its upward trend. If the decline in USD continues and breaks the support level at 0.89150, we can expect the beginning of a major downtrend towards the target levels of 0.88450, 0.87900, and 0.87000. I recommend considering selling from the conservative level of 0.88900-0.88700, anticipating a potential profit of 0.45-2.1%, with a SL at ~0.89750.
✅Hit the 👍 if you want more interesting and profitable trading ideas!
❓I look forward to your comments. What are your thoughts on this?
DISCLAIMER:
This idea is for informational and educational purposes only and is not a trading recommendation. Traders analyze and make decisions on using this information independently.
📉Due to the events in Israel since the beginning of October, USD/CHF has lost more than 3.5% in value and recently broke its upward trend. If the decline in USD continues and breaks the support level at 0.89150, we can expect the beginning of a major downtrend towards the target levels of 0.88450, 0.87900, and 0.87000. I recommend considering selling from the conservative level of 0.88900-0.88700, anticipating a potential profit of 0.45-2.1%, with a SL at ~0.89750.
✅Hit the 👍 if you want more interesting and profitable trading ideas!
❓I look forward to your comments. What are your thoughts on this?
DISCLAIMER:
This idea is for informational and educational purposes only and is not a trading recommendation. Traders analyze and make decisions on using this information independently.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.