BabyPips.com FX-Men Team
BabyPips.com
USD/CHF: 1-hour
Breakout alert! After testing the 1.0085 area twice last week and once this week, USD/CHF bulls look like they’ve hustled enough muscle to break the resistance level. Will it lead to a breakout though? One look on the 1-hour chart tells us that the “breakout” has been a slow grind rather than a burst of orders while Stochastic is also flirting at the overbought territory. A stop below the trend line and SMAs could get you some pips if you think that we’re seeing the start of an upside breakout while a short with stops above major and minor psychological levels is also a good idea if you think that USD/CHF bears are about to step in.
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