What’s the CHF doing now?

Good Morning Dynamic Traders,

Hope you all had a good weekend and are fresh for another week of trading.

My apologies for the delay in my update, I had been experiencing connectivity problems but all solved now!!

It’s time to find out what the CHF got up to on Friday and if it hit the top channel line and where is it going now!
If you look at the 4 hour chart below you can see that price did indeed climb to the top of the channel like I said it would, but it hasn’t stopped and dropped and it hasn’t smashed through the line. You can see that price has stopped at the channel line and is still trying to climb, but is struggling and is currently fighting with the channel line.













This now leaves us wondering what’s going to happen next? In the 4 hour chart above you will see that I have marked out divergence from the MACD, this divergence is also apparent on the hour chart below.














This divergence is signalling to me that price could reverse soon, and this helps explain why price struggling to beat the resistant line that forms the top line in the channel. Will this divergence help to steer price back down into the channel only time can tell what’s going to happen!

I would normally round off a week of following the CHF, but I’m in 2 minds whether to stay an extra week with the CHF or to follow another currency pair.

Happy Trading

Richard Monnery