On bellow chart you can see 1 year of data of USDCHF pair on daily chart.


Price came back almost to the same level where it was before SNB fall. I also marked previous divergence which resulted in 600 pips of drop. I monitor price closely, when it is coming to resistance at 1.0240. I want to see strong daily or 4h price action signal at resistance, possibly wait for LH and LL bellow resistance and then short that pair. Don’t forget that we are in strong up trend so this will be counter trend trade. On the flip side, price could break resistance. Then I would wait for a retest and long signal.
There is FOMC Meeting Minutes news ahead of us and tomorrow Switzerland Trade balance news.

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