USDCHF September 30th- Bearish Outlook

USDCHF has slowly moved higher retesting the trendline it broke on September 22 when we had a big bearish move; with all this volatility in just about all capital markets around the globe USDCHF respected a down sloping trendline connecting the year’s high at 1.1421 and September 12 swing high at 1.1265, overall the short term and mid term bias are bearish and although traders should keep an eye out for news coming out of the US, selling the rallies could provide some decent profit taking opportunities.

USDCHF has slowly moved higher retesting the trendline it broke on September 22 when we had a big bearish move; with all this volatility in just about all capital markets around the globe USDCHF respected a down sloping trendline connecting the year’s high at 1.1421 and September 12 swing high at 1.1265, overall the short term and mid term bias are bearish and although traders should keep an eye out for news coming out of the US, selling the rallies could provide some decent profit taking opportunities.

 

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