USDCHF – Breakout from Tight Corrective Structure, ST Bullish | Sep 3

Market Note: Tomorrow is NFP & Monday is a holiday in the US (banks closed), so be advised if holding any over the weekend or trading just before the event tomorrow.

USDCHF – Breaks Above Key Support Following Tight Corrective Structure (4hr chart)
After double tapping the offers and bears around 9680, the USDCHF broke above this level, formed a tight corrective structure above it, then took off higher today.

For now this creates a bullish scenario while above this level, with the next key resistance level coming in at 9800. If it clears this, then the early August highs just under the 9900 handle will be on deck.

Only a daily close below 9680 negates this picture.

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I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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