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FX.co ★ USD/CHF profit target reached perfectly before dropping strongly, time to start selling

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Forex Analysis:::2017-09-26T01:37:47

USD/CHF profit target reached perfectly before dropping strongly, time to start selling

The price shot up and reached our profit target perfectly before dropping from there. We are now seeing strong support broken triggering a double top reversal. The plan is to sell below major resistance at 0.9672 (overlap resistance, Fibonacci retracement) for a push down to at least 0.9580 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support).

RSI (34) sees our long-term ascending line broken triggering a bearish exit and a change in momentum.

Sell below 0.9672. Stop loss is at 0.9711. Take profit is at 0.9580.

USD/CHF profit target reached perfectly before dropping strongly, time to start selling

Analyst InstaForex
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