USD / CHF strong downtrend.
CCI in an are of an over-exhausted market, even below -200, which means that movements are sudden, and the price is below the 5 period the average. Unstable movement, in which you trade only sell, and you enter position about 50% correction of the previous bar and stop a few pips above its maximum.
Moving Averages in bearish formation. Possible correction to 0.9446
Breakthrough on the inside bar with the potential to decrease, bars with ever lower peaks and deeper bottoms - negative and highly unstable motion, sell only after adjustment of the current bar by 50% and stop a few pips above its maximum.
Sentiment: highly speculative short-term sentiment against the USD, after the minutes of the FOMC Wednesday. The markets believe that the Fed will not raise rates in September.
Stefan D. Angelov - Head of Stocks Trading
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