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USD/CHF: False Breakout Or...

By Scott BarkleyForexMay 04, 2021 08:44AM ET

www.investing.com/analysis/usdchf-false-breakout-or-200577322

By Scott Barkley | May 04, 2021 08:44AM ET

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USD/CHF is currently at 0.9129 back in a channel. Two scenarios:

Bullish

A bounce and a move to the 0.618 Fibo at 0.9200 area.

Bearish

A continuation would target the ATR target at 0.9050.

Watch the USDX for any change in direction. The ATR for the pair currently is 54 pips per day which is why the channel trade is enticing since price is considerably above this.

USDCHF False breakout or

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USD/CHF: False Breakout Or...

Waiting

Bullish

Bearish

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