USDCHF has finally broken out the downtrend on the lower time frames. An strong February NFP data and a long waited Fibo-retracement should boost the dollar higher before we can see another drop.
We can see that the currency formed a reversal pattern on the daily chart ( inverted head and shoulders) and it's currently being held up by the 50MA which is also indicating the entry point for opportunist buyers. The R/R ratio it's 1:5 approx if use the neckline as of the inverted H&S pattern as support.
Trade safe with proper risk management.
We can see that the currency formed a reversal pattern on the daily chart ( inverted head and shoulders) and it's currently being held up by the 50MA which is also indicating the entry point for opportunist buyers. The R/R ratio it's 1:5 approx if use the neckline as of the inverted H&S pattern as support.
Trade safe with proper risk management.