Here’s one for the long-term trend-traders out there! AUD/CHF looks ready to resume its downtrend after lollygagging around the mid-channel and 100 SMA resistance on the daily chart. Oh, and look at that bearish divergence just waving at us!
Planning on jumping on the downtrend? Shorting at current levels would still give you a good reward-to-risk ratio especially if you place your stops just above September’s highs or the 100 SMA area.