USD/CHF - Opportunity for medium term Long

FX forecast: USD/CHF

Let's start with the long-term consolidation of weekly schedules. A few weeks after the SNB decided to release the franc from euro, the Swiss currency entered broad consolidation around a parity with the dollar. Consolidation of the USD/CHF has yielded many speculative profit opportunities, both long and short. The current pairing, low down in consolidation, gives us a good opportunity to borrow Long Long for the top of the consolidation channel. In support of the long-term idea is DeMarker 8, which comes out of the over-sales area - positive for the price.

Let's look D1  for details and entry options.

What is most likely to result in a reversal in the short-term downward trend is the headline & reversed Head & Shoulders, whose Neckline was activated during the trading session yesterday. Supporting the long idea is also Sequential, which counts 3 on top - a promotion signal. The input from the current levels will be fit with SL under the right shoulder of the figure at levels around 0.9241.

Alternative Scenario: If the price goes back "in the figure" and registers a bottom lower than the right shoulder, the positive scenario will ruin and are more likely to see a decrease.

Jr Trader Petar Milanov

Read more:

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