USD/CHF is teetering on .8200 horizontal support, with a break of the level opening the door for a move towards the April low at .8040.
With price and momentum indicators both trending lower, and Friday’s bearish engulfing candle warning of further dollar weakness, the ducks appear to be lining up for downside near term.
If the price breaks .8200 and holds there, consider initiating shorts with a stop above the level for protection. .8100 and .8040 screen as potential targets.
Good luck!
DS
With price and momentum indicators both trending lower, and Friday’s bearish engulfing candle warning of further dollar weakness, the ducks appear to be lining up for downside near term.
If the price breaks .8200 and holds there, consider initiating shorts with a stop above the level for protection. .8100 and .8040 screen as potential targets.
Good luck!
DS
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