Reason for the trading strategy (technically):
Price has dropped strongly after making the exit. We prepare to buy above strong support at 0.9527 ( , price action, channel exit potential) for a push up to at least 0.9593 resistance ( , horizontal pullback resistance).
(34,5,3) is seeing strong support above 3.6% where we expect a further bounce from.
Correlation analysis: EURUSD and USDCHF are negatively correlated, meaning they move in opposite directions. It’s good to see a drop on EURUSD and a corresponding bounce in USDCHF .