Forex Ichimoku Trade Setup Dec. 2nd USDCHF

USDCHF – 4hr
After making a solid run from the 9550 level just past the parity level to 1.0050, the pair has flown comfortably above the Kumo for some time.  In fact, it had several touches/bounces off the Kumo and has been above the Kumo since Nov. 12th.

However, the pair is now threatening to break below the Kumo for the first time and could lead to a decent downmove, especially with the NFP coming tomorrow.  It should also be noted the current Kumo that is in front of current price action has a flat bottom which could attract price and create a good rejection point should the pair go lower.  From here, the pair should visit 9900 but a break below this level, it should make it down to 9750 so watch for a close below the Kumo.

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