Short term relief USD/CHF

Nov 18, 2018

The end of last week saw a huge sell off of the Dollar Swissy, with the market overextending through a major resistance zone . Price broke and closed below the 1.0015 area, which indicates to me a possible long term bearish trend could be experienced. Price has moved quickly in a short space in time , closing near the 1.0000 level, at levels of high fibonacci confluence and previous structure. Opening a short term opportunity to possibly profit on a correction that is likely due. With targets at previous structure, I could look for a possible longer-term bearish move if price rejects that level.

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15 MIN