USD/CHF: a short-term "SELL" is on the way

2 thg 3, 2023

As it can be identified from the higher-timeframe graphs, the price has formed some sort of a triple top, which is a sign of incapability of a bullish break. From here, we are expecting for the price to perform a solid, potentially a 100-pip drop and reach the level identified on the graph (area of the previous Higher High that lines up with the 50% Fibonacci retracement level drawn from the bottom of the 0.922 impulse.

The overall sentiment remains bullish, however, it would be beneficial to profit from this short-term hedge move.

Wishing a green Thursday for everyone!

Investroy