The USDCHF attempted to push lower yesterday, bottomed at 0.9370 but closed higher at 0.9441, formed a hammer candle stick formation as you can see on my daily chart below. We are still in a major bearish scenario but I think I will stand aside for now for two reasons. First, the hammer formation gives us a potential bullish correction scenario while price still unable to consistently move below 0.9400 strong support area. Second, I have a bad risk-reward ratio now as downside pressure seems limited. For me EUR/USD and GBP/USD are much better to be traded with better technical condition and risk-reward ratio.
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