USD/CHF: Sellers’ domination continues

EagleFX Team EagleFX

USD/CHF has been intraday traders' paradise recently. The pair has kept producing some excellent trading signals. Yesterday's daily candle came out a strong bearish candle. The H1 chart's price action has been bearish as well. The price made a breakout at yesterday's lowest low. The pair is trading below the breakout level. If the level produces a bearish reversal candle closing below the resistance of consolidation, the sellers may trigger a short entry to grab some green pips.

Chart 1 USD/CHF H1 Chart

The H1 chart shows that the price made a breakout at the level of 0.96310 earlier. It had a bounce at the level of 0.96220. The sellers are to wait for a bearish reversal candle at the level of 0.96310 closing below the level of 0.96220 to go short on the pair.

Trade Summary

Entry: Sell below 0.96220

Stop Loss: Above 0.96310

Take Profit 1: 0.95975

Take Profit 2: 0.95850

Take Profit 3: 0.95660

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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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