USDCHF setup for Feb 2nd, 2021
USDCHF has gained more than 160 pips in 4 days in a row, although the pair is still in a long term down trend trading below the 200EMA.
RSI shows strong overbought sign @ the 70 level, stochastic shows strong overbought sign @ the 90 level.
Failure to break the strong resistance level (Used to be strong support level) would be a sign of weakness and would continue to the downside.
RSI shows strong overbought sign @ the 70 level, stochastic shows strong overbought sign @ the 90 level.
Failure to break the strong resistance level (Used to be strong support level) would be a sign of weakness and would continue to the downside.
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