Trader, analyst and instructor with a 6-year experience

L.Vereschagin: trading USD/CHF

L. Vereschagin, independent analyst and trader

Chart 1. Daily USDCHF

USDCHF has become an interesting trade these days. 

The price lies close to the 0.8890-0.9010 resistance area. The pair approached a serious barrier, that is likely to pull it to the downside.

RSI Oscillator (8) is overbought, what also confirms the bearish view (Sell).

Chart 2. H4 USDCHF

Trade signal

Sell in a range: 0.8890-0.8910

Stop Loss:  0.8955

Take Profit:  0.8755

Chart 3. H1 USDCHF

Conclusion: sell signal confirmed

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