The Swiss Franc.

Good afternoon Dynamic Traders,

Todays chart on the four hour timeframe, is of the USDCHF.

At present it stands in a shorter term downtrend and therefore I am looking to see if a possible short entry can be taken.

Currently it has hit the lower fibonacci breather level of the previous big move and the V.I. and a former R/S zone.

There is also a slight shorter term divergence on one of our indicators together with an extremely OB Stochastic.

As you should also notice from the image below, the price action is standing in close proximity to a good RN.

Should this break north we do have another resistance area about 200 pips up, but for now see if we get confirmation to the downside.

As always please do your own analysis before taking any trades.

Charts courtesy of TradeStation.

Enjoy your trading.

Clayton Farnworth.