USD/CHF: Get ready to go short on the pair

EagleFX Team EagleFX

USD/CHF has been bearish on the daily chart for the last four trading days. Yesterday’s candle came out as a strong bearish candle as well. As of writing, the last H1 candle closed below yesterday’s lowest low. Thus, if the next candle closes below the breakout candle, the sellers may go short on the pair and grab some green pips.

Chart 1 USD/CHF H1 Chart

The H1 chart shows that the price consolidated around the level of 1.96765. Upon producing a bearish candle, the price headed towards the South on the last candle and closed below the level of 0.96650. If the current candle (as of writing) comes out as a bearish candle closing below the level of 0.96607, the price may head towards the South with good bearish momentum.

Trade Summary

Entry: Sell below 0.96607

Stop Loss: Above 0.96765

Take Profit 1: 0.96465

Take Profit 2: 0.96385

Take Profit 3: 0.96285

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Author

EagleFX Team

EagleFX

EagleFX Team is an international group of market analysts with skills in fundamental and technical analysis, applying several methods to assess the state and likelihood of price movements on Forex, Commodities, Indices, Metals and

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