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USDCHF long opportunity?

For today, there might be long opportunities on this pair – which means a sell option on EURUSD simultaneously. Yesterday the pair was pushed sharply lower close to the big support line at 0,9323. In the last two days it traded only under the 0,9394 area and so far it has not been able to break out from this range. But the sentiment has changed during the night and this morning, and it stabilized after yesterday’s slight dip.

The weakness of the dollar seems over. So today, we could have a good entry for long on USD/CHF. The cross traded at 0,9364 and the next big resistance line is at 0,9395. If this zone is taken out we will turn our focus to the 0,9465 level. It could be broken today.

USD CHF technical analysis 4 hour chart for currency trading



Blindfoldedmonkey is a daytrader and money manager who has spent more than 10 years in this business. Risking his own money each day in the market and working for some funds as money manager and adviser. With many years of experience, he developed a system, which called - "Fractal Trend & Contratrend". This system is a complex trading solution for the forex markets. He writes often fx analysis, holds forex seminars and webinars, already teached many hundred traders about how to approach the markets in practice.