USDCHF is trading below the resistance level 0.99690, after formation of double top in a technical 4-hour chart. I expect the bearish momentum to continue for next trading hours, pair would get first support at 0.99551 and if it crosses this level, then it will take second support at 0.99487. Further mounting pressure will force the pair to fall till level of 0.99307 after failure to sustain above third support level 0.99441. It will also attain level of 0.99153 after consistent selling pressure.
If it breaches the resistance level, then it could face hurdle at second resistance level 0.99764 and may witness a rise till level of 0.99931 after breaching third resistance at 0.99827. It could also hit level of 1.00030
I currently have two pending sell @ 9994 and 1.0015 ... If happen to see 9984, I might sell it.
I also had a thought that maybe it want to go up up up ...
I'm on the sidelines, I think this may go for .975x, I doubt much lower but with news coming and all this trump, china, fed crap, I'm uncertain at the moment.
I want the rise, I've still got a position up in the 0.99's that I'm holding.
I play the trade gamble to feed my Porsche addiction.
