The USD/CHF confirmed a weak closing and therefore also Thursday’s negative day reversal. Only a daily closing tonight below 0,8953 will however support the formation of a s/t top!
The indicators of the daily chart are now again negative but those of the weekly one, where the closing was strong above the top of the previous week, the indicators are still positive. In the s/t charts we have negative indicators this morning. Only an hourly closing above 0,9030 will postpone further weakness favouring a rebound that we expect to be corrective having the dollar formed bullish divergences in its drop on Friday. We suggest however waiting for a possible retest of the 0,9080 area before trying a short position!!
We remain on the sideline.
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FUTURE TREND RESEARCH