USDCHF: Channel Down but MA200 (4h) determines the trade

١٢ مايو ٢٠٢٣

The USDCHF is trading inside a Channel Down, with the recent rebound on the MA50 (4h) bringing the price at the top of the pattern.
The MA200 (4h) is about to be tested for the first time in seven weeks and is the pivotal level for the short term trend.

Trading Plan:
1. Buy if the price closes a (4h) candle over the MA200.
2. Sell as long as it closes under it.

Targets:
1. 0.91200 (Resistance 1).
2. 0.88190 (Support 1).

Tips:
1. RSI (4h) showing a similar formation as the Channel's previous High.

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Notes:
Past trading plan: