The USD has been weakening against the CHF the last few months. The USD/CHF
pair has sold off on high volume
since the end of December and broke through a support area
around .97500 area. Price seems to be forming a bearish descending triangle
pattern on the daily chart
. I will be entering a short position once price breaks the bottom of the triangle pattern
with a profit target around the .96200 level for a .5 to 3 risk/reward trade. Will be trailing my stop as price moves lower.
I appreciate any knowledgeable feedback.