USDCHF breaks key 2 year range - 450 pip fall to 0.91?

28 Jan 2018

USDCHF has been in a range between support (0.9450) and resistance (1.0300) for over 2 years which price has respected multiple times. There is a huge opportunity to if price action presents itself for a confirmed break lower and retrace to previous support, now resistance for a move lower with a first target area of 0.91 of approximately 450 pips. USD is showing signs on multiple pairs (EURUSD, GBPJPY, USDJPY) that it has reached support/resistance so this may be a fake out and price reverses back into the established range. Watch for price action signals prior to entering on the H4 & D1 timeframes for confirmation of this move!