Swissy put in a false breakout?

28 בספט׳ 2023

The USDCHF is at risk of a false breakout. The move above the .9150 is quickly reversing today as the sentiment was about as bearish we have seen in recent years (Daily Sentiment Index was at 5 on Wednesday). Price has moved far enough higher to squeeze shorts out of the market and entice new long trades. A close back below .9150 should target the 200dma or previous channel support near the .8970 level. Also, the weekly candle would show a false breakout (tomorrow) as well.