USDCHF channel break

Scott Barkley ProAct Traders

Bearish: Currently we are @ 0.9362 and starting a push to the downside out of a channel with divergence. We are initially looking for a continuation to the 0.382 Fibo @ 1.0625 and a further target at the 0.500 Fibo @ 0.9300 area. Either one could be a bounce point. The average daily true range (ATR) for the pair currently is 82 pips.

Author

Scott Barkley

ProAct Traders

Scott Barkley is the President of ProAct Traders LLC located in Round Rock, Texas. Scott graduated from the institute For Latin American Studies in Cuernavaca, Mexico.

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