USD/CHF approaching weekly pitchfork limits
HI Traders,
I hope this week has been kind to you all! An interesting finish to the week regarding the US Dollar Swiss Franc pair. The weekly chart shows the pitchfork study starting at the beginning of 2017 with price starting its decline around November.
As we are below the Ichimoku cloud, going short is the logical course of action here. Resistance is forming strongly at the Kijun base line and the pair could now begin to move lower once more. Geopolitical tensions could play a part here with the Swiss Franc being a traditional safe haven currency.
As always, time you're trades well. Look for daily signals of a move lower.
Happy trading!
I hope this week has been kind to you all! An interesting finish to the week regarding the US Dollar Swiss Franc pair. The weekly chart shows the pitchfork study starting at the beginning of 2017 with price starting its decline around November.
As we are below the Ichimoku cloud, going short is the logical course of action here. Resistance is forming strongly at the Kijun base line and the pair could now begin to move lower once more. Geopolitical tensions could play a part here with the Swiss Franc being a traditional safe haven currency.
As always, time you're trades well. Look for daily signals of a move lower.
Happy trading!