USDCHF Daily S/R| Local S/R| Price Action| Trend

Evening Traders,

Today’s analysis – UCDCHF – trading above its daily s/r where a respect is probable,

Points to consider,
- Price Action Impulsive
- Daily S/R Support
- Local S/R Resistance
- Swing High Objective

USDCHF’s immediate price action is impulsive, trading above is daily s/r, allowing for a bullish bias into the local s/r only.

The local s/r is current resistance, testing this level is likely to be a bearish retest, allowing for a short entry.

The .382 Fibonacci is in confluence, proving to be a true trade location.

Overall, in my opinion, USDCHF is a valid short with defined risk; price action is to be used upon discretion/ management.

Hope this analysis helps,

Thank you for following my work

And remember,

“In order to succeed, you first have to be willing to experience failure.”
― Yvan Byeaje