FX.co - USD/CHF at major resistance, prepare to sell

2016-11-15T15:00:22

Long-term review

Price has reacted off major resistance at 1.0000 (Fibonacci projection, horizontal resistance, big figure) and we expect a drop to 0.9833 at least.

RSI (34) is also reacting off major descending resistance which goes in line with our bearish view.

Sell below 1.0000. Stop loss at 1.0050. Take profit at 0.9833.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Dean Leo

FX.co ★ USD/CHF at major resistance, prepare to sell