USDCHF has broken beneath a key ascending trendline that’s been supporting price since July 3rd. This drop comes after multiple failed attempts to break the 0.7986–0.8000 resistance zone — a level that continues to reject bullish pressure.
Now, price is retesting the broken trendline and the 50 EMA from below, creating a potential bearish continuation setup if this retest holds.
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Bias: 🔻 Short
This is now a bearish structure unless price reclaims and closes above 0.7985 with strength.
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Trade Idea:
• Entry Zone: 0.7960–0.7970 (trendline/EMA retest)
• TP1: 0.7930 (previous low / structure support)
• TP2: 0.7900 (psychological + demand zone)
• Invalidation: Clean break and hold above 0.7986
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📌 Structure shift + EMA + trendline confluence
📌 Clean rejection from resistance
📌 Lower highs forming
⸻
#USDCHF #Forex #TrendlineBreak #BearishSetup #BuiltNotBegged #AutoMarkets #PriceAction #ForexAnalysis #TradingViewCommunity
Now, price is retesting the broken trendline and the 50 EMA from below, creating a potential bearish continuation setup if this retest holds.
⸻
Bias: 🔻 Short
This is now a bearish structure unless price reclaims and closes above 0.7985 with strength.
⸻
Trade Idea:
• Entry Zone: 0.7960–0.7970 (trendline/EMA retest)
• TP1: 0.7930 (previous low / structure support)
• TP2: 0.7900 (psychological + demand zone)
• Invalidation: Clean break and hold above 0.7986
⸻
📌 Structure shift + EMA + trendline confluence
📌 Clean rejection from resistance
📌 Lower highs forming
⸻
#USDCHF #Forex #TrendlineBreak #BearishSetup #BuiltNotBegged #AutoMarkets #PriceAction #ForexAnalysis #TradingViewCommunity
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.
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.