USDCHF Approaching the 1D MA50 for the optimal sell entry.

The USDCHF pair made a strong rejection near the top of the Channel Down pattern and hit our 0.88250 sell target as illustrated on our analysis 2 months ago (see chart below):


The price is now rising again, after nearly the -0.5 Fibonacci extension for a Lower Low (same as the May 04 Lower Low). The most optimal sell entry is within the 1D MA50 (blue trend-line) and the 0.618 Fibonacci retracement level. That is located exactly at the top of the Channel Down. We will take that opportunity to sell and target 0.8300 (again near the -0.5 Fibonacci extension).

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