USDCHF_Testing the low of the channel_Watch and see...
Updated
Hello Traders.
With EURUSD getting way up there I'm at a place of caution. My expectations of EURUSD most recent bull run have been met after a beautiful 5 wave impulse pattern. How much farther will it climb? I have no idea short term. Long term I believe DXY is due for high 80's, but presently I feel our fuel has been used up getting this far. We will need to either consolidate or pullback to gain more fuel.
A pullback would be considered risk off by current dynamics, meaning we expect lower XXX/USD and high USD/XXX.
USDCHF has moved to the low extreme of the channel where reversals are historically likely.
I will need to see daily buy signals before placing long side trades. Target is .98800. Stop at .92583. Entry will be posted if trade becomes active so Follow for more! Good Luck!
IF you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated!
Disclaimer: Oanda data shown. Trade at your own risk!
With EURUSD getting way up there I'm at a place of caution. My expectations of EURUSD most recent bull run have been met after a beautiful 5 wave impulse pattern. How much farther will it climb? I have no idea short term. Long term I believe DXY is due for high 80's, but presently I feel our fuel has been used up getting this far. We will need to either consolidate or pullback to gain more fuel.
A pullback would be considered risk off by current dynamics, meaning we expect lower XXX/USD and high USD/XXX.
USDCHF has moved to the low extreme of the channel where reversals are historically likely.
I will need to see daily buy signals before placing long side trades. Target is .98800. Stop at .92583. Entry will be posted if trade becomes active so Follow for more! Good Luck!
IF you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated!
Disclaimer: Oanda data shown. Trade at your own risk!
Note
Note
After some time in careful analysis I've decided its unlikely EURUSD with stop at this point and a lower low has technically been made. No trade on USDCHF at the moment.
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