USDCHF: Shorts in Play

Yesterday I wrote about the EURUSD, that it just broke a long term resistance level and got out of the range it traded for more than 2 months. Well, the same happened to the USDCHF, it broke two long term support levels and it is also trading below the range it traded for more than 2 months. Take a look at the next chart:

USDCHF
USDCHF

Now, the next long term support level is around 1.0172, the market right now is trading at 1.0426, this means we have a long way to get there, so fasten your seatbelts :)

My Trading Plan:

As long as the USDCHF keeps trading below 1.0447 I will be looking for short opportunities and will set all my take profit orders above the next long term support level at 1.0172

Good luck

Raul Lopez

swiss franc, undefined range, USDCHF analysis


Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .