USD/CHF: a bearish flag

USD/CHF: a bearish flag

Trade idea

SELL at 0.9940; TP1 0.9885; TP2 0.9830; SL 0.9960

USD/CHF formed a bearish “flag”. It’s trading below the 50-day MA at 0.9937. MACD entered the negative area. The next downside target is at 0.9885 (100-day MA) ahead of 0.9825 (200-day MA).


On H4, the moving averages are aligned in the negative order. The daily pivot point lies ar 0.9955: bears will prevail until USD/CHF is below this point.



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