USDCHF Channel

6 февр. 2017 г.

Price has channeled nicely in a downtrend over the past month. Currently price is retracing to a key level of 0.995. This zone has acted as strong S&R over the past year and after a false break last week I expect price to respect that level once more before creating new lows. An aggressive entry could be taken at this level, however I will be waiting for a break of the ascending phase line before shorting. My first target is the previous low at 0.986 with further targets at the weekly support of 0.980