(Thursday, August 1st) Hi Trader, check out my latest analysis on USD/CHF in today's Trade Report.
August 1st, 2019: USD/CHF Hi Trader, Today we're looking at USD/CHF for a potential trade opportunity. |
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We looked at the USD/CHF currency pair a while back and determined that an ending diagonal pattern was nearing an end. Price then broke out of that pattern, to the downside, in what looks like 5 waves. We might be seeing a correction higher right now that could lead to more downside pressure if we are right. |
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If price can make it to the upper red warning line, then we would be interested in shorting USD/CHF. We chose the upper red warning line due to the Fed's rate cut decision, which caused the USD to strengthen versus most other cross pairs. Our entry zone will lie between 1.0100 – 1.0120; members of my Trade Forecasts will receive exit levels and trade management instructions in their personal dashboard, as well entry confirmation alerts in our private Telegram.
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| UPDATE: USD/NOK (Target Reached)
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Price reached our target and blasted right through it! It was a solid trade with a 1.55 R:R, and I never get tired of booking profits like this these! |
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