US Dollar /Swiss Franc - Short/Sell

3 Eki 2018

With the US Dollar starting to show signs of a potential short term top as well as positioning of the Swiss Franc reflecting speculative shorts beginning to cover, I am looking at a short/sell on the Dollar vs Swiss Franc pair, which is signaling a slowdown in upward momentum. According to the 4-hour chart, the price is testing overhead horizontal as well as downward trend line resistance, while the MACD has given a bearish crossover.

Trade Levels:

Short/Sell USD/CHF above 0.9855
Stop-loss: 0.9905
Take Profit Target: 0.9760