Time for a little short blog again!
USD has been really strong in the past week and we can see this in the currency pairs of USDJPY and USDCHF.
As you can see in the chart below, USDCHF has been moving up every day and moving almost vertical.
On Friday night, it finally came down and showed a pin bar. So is it a sign of weakness that a change of direction is coming?
It certainly broke a resistance, so let’s see next week what will unfold.
Early adopters may short this pair. Failure of this pattern when prices moves and close above strongly, which will continue the upside.