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USDCHF | Perspective for the new week | follow- up detail

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The momentum drive on the USDCF has been bullish since the beginning of the year and the breakout of the bearish trendline on the daily timeframe coupled with the appearance of a double top look-a-like structure during the latter part of last week's trade session could be a signal of a reversal phase evolving. However, I still hold a strong bullish bias on this pair and the proposed retracement move could be an attempt to retest the structure broken at the 0.95700 area

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註釋

The direction participants in this market are tending toward is still looking bullish at this point. Let's see if a breakout/retest of the 0.98350 level will happen to join the potential rally. However, a breakdown/retest of the bullish trendline will incite selling opportunities.

Good morning

交易進行

A breakdown of the bullish trendline has happened

交易進行

Running in profit as price is below the key level at 0.98000. Moving stop to break even

Good morning

交易進行

Break-even and re-entry triggered. With 19pips running in profit, I am moving my stop to break even to protect my position.

Good morning

交易進行

Price appears to be doing a retest of the bullish trendline that was broken to the downside yesterday. So, are we going to see a reversal pattern under this line to incite a downtrend (below 0.98350 for selling opportunity) or is there going to be an outright breakout of the line where a retest will establish a bullish setup?