possible pattern set up on $USDCHF could break out in either direction but im leaning towards short due to the reasons mentioned on chart
USDC-D
USDCHF remain bullish with pullback to supportBuy above 0.9958. Stop loss at 0.9900. Take profit at 1.0044.
Reason for the trading strategy (technically):
Price has broken our long term descending resistance-turned-support line signalling a change in momentum to bullish. It has also made a very nice pullback and recently displayed a bounce above this descending support line. We turn bullish above 0.9958 support (Fibonacci retracement, horizontal overlap support, pullback support) for a push up to 1.0044 resistance (Fibonacci retracement, swing high resistance).
RSI (34) sees intermediate support above our 36% level.
EURUSD Overall Downtrend Over the market has been saying downtrend, just be careful & simply wait for 50sma confirmation.
