WRJ_FX

USDCHF Chart Structure Idea - Inverse Head & Shoulders

Singkat
FX:USDCHF   Dolar A.S. / Franc Swiss
USDCHF has been pumping nicely over the last few weeks since historic lows were touched back in january.
Prior to the bullish run we can identify a clear bearish channel continuation pattern that drove price down to these key level lows.
Price action shows a potential breakout of the upside of the channel (*200 pips) however momentum suggests an un-organic increase in price demand, due to US NFP news being highly positive.
Thus giving a false short term value only while influenced by this news.

I believe price will make an attempt to regulate itself around these key weekly highs now, the short target lays around 0.91600-0.91800, which is also fib level 1.618, I'll anticipate potential bullish momentum before a longer stretch playing back down to the down side, eventually targeting 0.89800< .

I see .898 being a potential right shoulder in respect of the daily chart structure as indicated.

A nice liquidity zone here at 0.89800-90200 too as our target to give added confluence that we are always mindful of where banks and institutions want to go next!
Penafian

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