USDCHF: A false break of resistance will set up a sell-off
Updated
USDCHF breaks trend support and forms a range of 0.900 - 0.888
The market is flat and accordingly an intra-range strategy should be considered
There is no potential to break the resistance at the moment, as a small rally to the resistance is forming.
and such a fast movement can be stopped and reversed quite easily.
A big player is likely to delimit the range at 0.89994 resistance with the aim of taking a large position before moving to one side or the other.
Strategy: False breakdown of resistance followed by a fall. Targets: 0.895, 0.888
The market is flat and accordingly an intra-range strategy should be considered
There is no potential to break the resistance at the moment, as a small rally to the resistance is forming.
and such a fast movement can be stopped and reversed quite easily.
A big player is likely to delimit the range at 0.89994 resistance with the aim of taking a large position before moving to one side or the other.
Strategy: False breakdown of resistance followed by a fall. Targets: 0.895, 0.888
Trade closed: target reached
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