USDCHF Forecast and Potential Cypher Trade Setup 11th April 2014

USDCHF Forecast and Potential Cypher Trade Setup 11th April 2014

Daily Chart

• On a Daily Chart we could see a huge fall continuous for 4 days
• Fall from ascending channel 
• Looks bearish and some may argue we could find lows as we continue the bearish tone. However I have spotted this cypher pattern which could work nicely due to the fact these patterns if formed at top and bottoms work much better

Hourly Chart

• We have a potential Cypher Pattern
• Stochastics is extremely oversold but remains in the oversold (slight divergence) - this doesn't mean anything but still in a bearish mode
• RSI - slight divergence where its starting to head up above 30

Outlook Trade opportunity

I would place Long trade now with stops below the X

Risk Level Medium

Tips -

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