Mihai_Iacob

UsdChf to drop 500 pips? (medium term)

Short
FX:USDCHF   U.S. Dollar / Swiss Franc
Since May, UsdChf is trading in a range, with a resistance zone above parity and a floor at 0.95.
On Friday the pair reversed strongly from this zone leaving a long-tailed pin bar on our daily chart with its tail beginning at 1.0150.
This can be the signal for bears that a new leg down could follow and a new drop to support.
Confirmation is given by a daily close under 0.99 and as long as 1.0150 is intact, rallies should be sold

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