The Week Ahead On USDCHF

USDCHF: Closes Flat, Faces Corrective Pullback Risk

USDCHF: With a flat price action trading occurring the past week, risk of an impending corrective pullback continues to loom. On the downside, support lies at the 0.9200 level with a break targeting the 0.9150 level and then the 0.9100 level. Further down, support comes in at the 0.9050 level. On the upside, resistance resides at the 0.9344 level where a break will aim at the 0.9400 level. Further out, resistance resides at the 0.9450 level. A breather may occur here and turn the pair lower but if taken out, expect a push towards the 0.9500 level. All in all, the pair remains biased to the downside medium term.

With a ten day price range of over 400 pips, take a small position size, and I don’t know what direction to trade although north would be my guess.

With a really small position size I agree that a corrective pullback is on the cards. However personally I am going to wait until the pullback (hopefully) occurs to start trading USD/CHF!
~ImBatman