The USDCHF had a significant bullish momentum yesterday, topped at 0.8891 and closed at 0.8883. My H&S bearish scenario failed and its time to see from another technical perspective. As you can see on my h4 chart below, price has been moving in a range area of 0.8945 – 0.8779 since the break above the bearish channel suggests a consolidation phase. The bias is more to the upside but need a clear break above 0.8945 to continue the bullish momentum testing 0.9000 even higher. Aggressive intraday traders can short around 0.8945 or long around 0.8779 with tight stop loss.
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