Rob Banks
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USD/CHF: Droppin' Like It's Hot!

About 10 days ago, a big bearish engulfing candlestick pattern appeared and stopped the pair's uptrend fast, sending it downwards.  Throughout the week period, USD/CHF has been moving down steadily with only minor resistances at the major fib retracement levels.  I was initially planning to enter a buy position at the 61.8 level yesterday hoping for a bounce but it seems like the there is a good chance of breaking through that level and continuing in a downtrend.  As of today, the pair broke through 61.8 support, went down, and retraced slightly back to the line.  I believe this is a good opportunity to short, maybe???