USDCHF LONG OPPORTUNITY - PRICE ABOVE 50 DAY MOVING AVERAGE

Hey traders,

This is my analysis for USDCHF on the daily charts.

As we can see price looks like it's in this consolidation triangle pattern.

Price is currently sitting above the 50 day moving average.

Price was in a downtrend before failing to make a lower low.

USDCHF is heavily negatively correlated with the EURUSD. EURUSD is currently in a bearish impulse.

Wait for breakout out of this pattern + retest before going long.



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