USDCHF - Bears taking control

The Swiss has been moving in a tight range over the past few days. However, you cannot quite ignore the fact that a bearish momentum is slowly taking shape.

USDCHF - Shorting the pair

Previously, we were long on the Swiss franc but an hour ago, closed all the long positions and have now entered short.

The likely price target is 0.93525 and the chart below shows the triangles on the 4-hour chart.

A conservative trade would be to short this pair around the 50% level of 0.94593 with take profits set to 0.938. It will take a while for this pair to clear the trade though, so once the trade is opened, expect to see quite some swaps being deducted. That being said, we can expect the Swiss franc to drop quite a bit during next week.