USD/CHF 03.07.2017
Our expectations: The price reached strong horizontal support. After the huge selloff of the USD in the last few months, the US currency may reverse a few of it's losses, which gives us good prices for a short/middle term USD buy.
Alternative scenario: If the price breaks below the horizontal support and break away from the consolidation, we may look for a short position with SL 0.9600.
Comments: Long-term consolidation, the price reached main horizontal support. Price action signal: Engulfing candle at levels of support. Technical indicator: DeM(14) - Turning north in zone of oversold, when broke level 0.3, the positive scenario will be confirmed.
SL: 0.9530
Trader Bozhidar Arabadzhiev
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