USDCHF is testing the falling wedge reversal resistance line
USDCHF is testing the falling wedge reversal resistance line 0.9120. A close above 0.9120 is required for the upside continuation and extension higher to 0.9380. For a complete bearish downside reversal breakout and higher probability short trade entries, we need to see a confirmed break below 0.9000. USDCHF has fallen to 0.9000 ina a latest swing down from 0.99. The overall long-term is a sideways downtrend in the range snd we need to see a break above 0.9120 for the upside reversal.
Note – We are inclined more to long trade entries upon a break above 0.9120 with the stop loss below 0,9050
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Consolidations are period of price action silence ahed of big moves. Trader needs to identify this periods and to act when price action reverses
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