I my last post I had shared a view of the 240-minute time frame and the exhaustion area I was watching there. Prices came close but never reached the area where I felt that the bullish momentum would shift as it ran into selling pressure so I began looking at more near-term resistance within the uptrend that the shorter-term time frames were in, like the 15, 30, and 60-minute charts.
So by now it’s obvious that idea behind an exhaustion and reversal in the USD/CHF has followed through lower, now the question is where is the buying support? Take a look at the 1.0244 to 1.0288 area on the chart below.
Similar Posts:
- Be aware of Directional Bias espeically when it comes to longer-term, intraday time frames.
- Selling into the USD/CHF Rally?
- What does the dollar’s correction mean to the longer-term fx trends?
- Setting up the AUD/USD intraday uptrend
- Why I’d like to see EUR/USD exhaustion between 1.4720 and 1.4700
