The weekly candle on the swiss yen gave us a potential bearish signal. We expect price to continue to consolidate to the upside before giving us a big drop to the downside.
BULL CASE
Price moves to the top of the channel before dropping down farther. The price we're looking at is 126 but it may breakdown midway due to the uncertain nature in this zone.
BEAR CASE
This is unlikely but price may just collapse from here. If it does break structure our price target is 122. Remember not to fomo in and control your risk if it happens.
BULL CASE
Price moves to the top of the channel before dropping down farther. The price we're looking at is 126 but it may breakdown midway due to the uncertain nature in this zone.
BEAR CASE
This is unlikely but price may just collapse from here. If it does break structure our price target is 122. Remember not to fomo in and control your risk if it happens.
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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.
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.