The USDCHF rally has now been exhausted. The uptrend was broken, retested, and failed as demonstrated on the markup. Moreover, the RSI has now begun to roll over from the severely overbought (70+) region and a bearish crossover on the MACD (12,26,9) occurred on May 11, 2018. The Franc was also oversold across the board and I believe the stars have aligned of sorts to go long on the Franc at least in the mid-term.
Thank you for looking and as always, please share your feedback below. Thank you!
Thank you for looking and as always, please share your feedback below. Thank you!
Trade active
Nice breakdown today and a close below the 0.9950 support. Franc is picking up steam and will continue to strengthen. And with the dollar rally exhausting, expect to see this pair continue to fall.Trade active
Our short position is progressing nicely.
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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.