FX.co ★ blaise.rogahn | USD/CHF

Hello colleagues. I've set up a profile on the dollar/franc over the weekend. The bulls, of course, staged a powerful rally. The last daily candle closed with a strong upward impulse. Quotes almost reached the highs at 0.80633 and trapped the sellers in a corner. But if you analyze this structure through horizontal volumes, the picture looks ambiguous. All this final jerk happened in absolute emptiness. There are no dense traded shelves at the top - just a vacuum of liquidity. Large capital left all its maximum POC volumes far below, below the level of 0.79670. Buying the dollar right from the current peaks in an empty market is a huge risk. But I won't aggressively switch to short against such a locomotive. Similar vertical spikes rarely reverse with just one pin. Most likely, at the opening of the week, we will face a local grind. My plan for the next week is fence-sitting and waiting. I will monitor the technical breakthrough of quotes downwards to gather liquidity. Ideally - wait for a deep pullback to the mirror zone of 0.79670-0.79290, where the upper cost boundary passes. If a limit support is formed there, I will enter a long position with a target at 0.81170.