USDCHF Testing Major Resistance

Trade background:

Price retreated from key resistance level last week. This validates the current bearish trend we’re in. Nevertheless, price could spike to the final resistance level of the trend. This is very possible as FOMC is just a few days away. Therefore, look for the pair to spike for a short position following the bearish trend .

Chart:

Trade Details:

Positioning: Short
Time frame: Daily
Length of Trade: 2 days to 1 week

Entry: Between 0.99700 – .99800
Stop: 1.0000
Exit: 0.98250


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