Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.
Dollar Swissie had got a massive move down today and it broke the daily trendline.
This move caused by risk aversion as president Obama’s speech about tax cuts. Technically I like to go long somewhere around 0.9585 as an ABCD pattern will be completed there on daily timeframe.
That bearish move needs a retrace before going further down to reach 0.9585 but as you know Forex is the world of uncertainty so for now I stand aside a looking for that level to go long and in case of any other moves that send the price above the trendline will have me to consider about long setups there.
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