USDCHF Short

Last week, we saw USDCHF at the 0.92692 price level, which we were awaiting a move upwards into our resistance zones. Well price did such that, and now we can begin to short this pair until the 0.92725 price level, which is also the 61.8 Fibonacci retracement level. Once we hit our take profit at this level, we can look for a buy entry to ride this pair back up to our resistance zones, or look for bearish signs that the price action and structure may continue downwards.

Sell Entry: 0.93560
Stop Loss: 0.94115
Take Profit: 0.92750

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