Trade Idea: Bearish Reversal
USDCHF surged to the topside of the bearish channel last week as risk appetite returns. Now that we're entering a new week, there are still a lot of headlines that could bring back volatility (Brexit, US-China Trade & Government) to the markets.
Trade Step-ups:
Scenario One: Price reverses from current resistance level to the bottom side of the bearish channel. Look to profit below 0.9740.
Scenario Two: Price pushes higher to final key resistance below reversing to the bottom side of the channel. Look to profit below .9740.
USDCHF surged to the topside of the bearish channel last week as risk appetite returns. Now that we're entering a new week, there are still a lot of headlines that could bring back volatility (Brexit, US-China Trade & Government) to the markets.
Trade Step-ups:
Scenario One: Price reverses from current resistance level to the bottom side of the bearish channel. Look to profit below 0.9740.
Scenario Two: Price pushes higher to final key resistance below reversing to the bottom side of the channel. Look to profit below .9740.