Orion-Markets

USD CHF Short Idea

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OANDA:USDCHF   Dólar Americano/Franco Suíço
USDCHF has been in a strong uptrend since the announcement of the head of the FED yesterday. It appears that this pair is starting to lose momentum as there is strong selling pressure on the 1hr candle wick that has just formed. This has led to the 4hr candle having a lot of sell pressure, with the wick being longer than the body. The RSI levels are also in overbought conditions right now at the levels of 81. Because of these factors, it's likely a drop in price is imminent and a short sell will be appropriate. The target of this trade is at a recent support level of 0.928 and the stop-loss area is located just above the recent high.

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