16m 43s: Lenght

To Get Ross' Free Forex Update Analysis - Click Here: http://mytotalsupport.com/cpv/base.php?c=86&key=fd5d14f7ec45b14d31a944108238114b&ls=youtube&keyword=forex_pro&ad=j6TIThrO938 Let’s get started here on the US Dollar versus the Swiss Franc [USDCHF]. I’m going to zoom out actually one more time here on the USDCHF daily timeframe. Take a wider angle view of this currency pair because I think it’s important for us to remember what the trend was over the past several months. We’re going all the way back into October and November of 2015. We reached the highest high here on the chart, and then started a downward-sliding channel as it went down, back up, down, up, down, up within the channel. We tried to break out of it just a few weeks ago. Non-farm payrolls out of the US causing a selloff of the US dollar. Got right back inside the channel. So, here we are once again inside of that channel. So, that’s very interesting here for the USDCHF. If it continues to slide lower, of course there’s a possibility we even see a new low made back down towards the 0.9400 or even the 0.9300-level. The bottom of that previous channel. Now, the black box that we’re seeing right now on the chart. The current area is a little bit of a period of congestion or range between the pink and the blue-shaded area, and that’s not too surprising here because we’re leading up to a significantly volatile event this week and the market can often go into some ranging prior to an event like that. And so, that’s what we’re seeing here on the USDCHF. Down around 0.9600, 0.9580 or so is the pink-shaded area at the bottom. The blue-shaded area at 0.9670 to 0.9690. These areas will be what we want to watch this week. If it breaks down through the pink-shaded area, we could begin looking for that slide lower. Open and close underneath 0.9580 could produce a sell opportunity here for this currency pair. As long as it’s above that though, above the pink zone, I don’t think I’m really ready to call this as a sell until it breaks through that pink-shaded area. So, as long as it’s inside or above it, I don’t think selling is a good idea. We’ll wait for it to break underneath it. The other opportunity to go short of course would be all the way back up at the blue-shaded area, and of course we’re nowhere near that at the current moment. https://www.youtube.com/watch?v=j6TIThrO938 Disclaimer: This video is for general information only and is not intended to provide trading or investment advice or personal recommendations. Any information relating to past performance of an investment does not necessarily guarantee future performance. Forex Traders Daily including its analysts shall not be responsible for any loss that you incur, either directly or indirectly, arising from any investment based on any information in this video. Please remember derivatives and FX spot carries significant risks and may not be suitable for all investors. Losses can exceed your deposits.