USDCHF – Potential LT Trend Reversal (Daily chart)

Chris Capre 2ndskiesforex

Price Action Context

After putting in a CT FB at the LT resistance we’ve talked about in earlier commentaries, bears stayed in control, pushed price lower all the way to 0.9850. This created the first lower low after a series of higher highs since early 2018, which indicates that the LT bull trend potentially is coming to an end and we might be looking at a LT transition in order flow from bullish to bearish.

Trending Analysis

LT bias is neutral and a possible pullback into the LT resistance can offer potential shorting opportunities to bears.

Key Support & Resistance Zones

R: 1.0050 – 1.0130
S: 0.9780 – 0.9825

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Author

Chris Capre

2ndskiesforex

Chris Capre is a professional forex trader and mentor specialized in Price Action trading, and the Ichimoku Cloud.

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