USDCHF MAY DECLINE

A careful review of my EURUSD post ( click here for EURUSD post ) shows that the LONG triggered for final confirmation and stoploss should not be below 1.4000. I have also spotted another trade opportunity in USDCHF. Price "playing" below my RSI trendline (bearish status) and market got overbought with the Bollinger Band upper band hit so aggressive trader will take a short from that spot.

30min timeframe will give a clearer and conservative entry. I expect swing low ahead of my vertical line and entry below the swing low. What i am saying is that, i am expecting a retracement and a good continuation if the DOWNTREND will prevail. Stoploss should not be more than 1.05520.

My 5min timeframe can also help in entry and possible exit clue.

Right now the 100 and the 200 simple moving averages will be serving as short term support that must be defeated to confirm the down trend. We ride until we see another defeat of those moving averages as ressistant lines.

Let us watch.