As you can see on the daily chart above, USDCHF has been on the bullish trend for the past days until it trades at the resistance of 1.00** area and whipsawed strongly and close below the Bullish trend line. The above PA scenario implies that the Bear will take control for the mean time. when market opens by next week..look for a sell Entry after a bit retracement below 1.0015 area.. and place a stop at 1.0035. The first target will be at 0.9900-9850 area. base on the development in the market, we'll observe the Price Action for further development.
NOTE: The Reverse is the case for EURUSD Trend updates base on the % correlation with USDCHF.
Do have a Pipful wonderful week ahead ... Always apply a sound portfolio and risk management.
Your Trading Success is my Joy.
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