Hello everyone:
Also eyeing USDCHF for bearish downside price action.
We can see price formed into an ascending channel, correcting the price up.
At the top, a Head and Shoulder pattern has formed, and reversed the price down, good indication of a bearish reversal price action.
Latest development shows price broke out of the ascending channel, and formed a bearish continuation correction.
Expecting further downside from the price, watch for correction complete and look for sell down to previous lows as a potential targets.
Thank you
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.