Clear Down Trend, Will It Break? | USDCHF Long
Hi Traders,
USDCHF is in a clear down trend. However, we can anticipate a retraction to the 0.328 fib level and possibly the 0.5 fib level which aligns best with structure and coincides with the neckline of the M formation. But first, we need to see a break above the daily resistance.
Lets see how this one plays out. Like this post if you are waiting for a similar set up on this pair.
Remember analyze the charts for yourself and trade with caution.
USDCHF is in a clear down trend. However, we can anticipate a retraction to the 0.328 fib level and possibly the 0.5 fib level which aligns best with structure and coincides with the neckline of the M formation. But first, we need to see a break above the daily resistance.
Lets see how this one plays out. Like this post if you are waiting for a similar set up on this pair.
Remember analyze the charts for yourself and trade with caution.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.