USDCHF is the same as USD/JPY.
From the low at 0.9636 last march, the pair have made a correction in 3 waves, we already hit the equality arround 1.0980.
We recovered 38.2% of the former downside movement from 1.3280 (nov 2005) til .9636 (march 08).
USD/CHF have problems in weekly to handdle 1.1060, the pair is making2 doji (hanging man).
There is a risk of downside now on usdchf, moreover, we are on the bottom of the cloud on weekly chart and I don't think rates are goin ghigher.
We are dealing above the EMA 50, RSI is still in negative and MACD just crossed.
On the ichimoku, the 2 sen crossed but under the cloud, which means becareful with the "bullish trend" .
span is dealing above the rates but seems to have made a top, and Span is working below the cloud.
On daily we are in a range at the present time, with a lot of Doji , counter days.
Prefer the short options at the present time
In the uptrend
Be long @1.1371 SL 1.1192
Be short @ 1.1192 SL 1.1371
In the downtrend
Be long @1.0832 SL 1.0653
Be short @1.0653 SL 1.0832
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