Let’s take a look at the USD/CHF. We see a lot of talk about how much further can the USD/CHF pair go?
In the shorter term, look for the pair to potentially continue down to the .7500 area. This will be a major support line so we may see a bounce off this price level. If we do, look for a potential move back up to test the .7800 (longer term) and above.
It’s important in these types of market conditions to try and not guess the bottom by entering long. Wait for confirmation of a potential change in movement. If you’re in a sell trade and am in profit, be sure to lock in pips.
Good luck with trading.
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