The USD/CHF pair on the H1 chart exhibits a bearish signal suggesting a potential decline in the coming hours. A recent downside breakout from a descending channel pattern could offer a shorting opportunity.
Key Points:
Descending Channel Breakout: The price has been trending downwards within a channel defined by two falling lines, one for resistance and one for support. This indicates ongoing selling pressure and potential for further decline.
Sell Entry: Consider entering a short position around the current price near 0.8620, offering an entry point close to the breakout level.
Target Levels: Initial bearish targets lie at the support levels of 0.8540 and 0.8470, marking previous support zones within the channel.
Stop-Loss: To manage risk, place a stop-loss order above the resistance line of the broken channel at 0.8700
Fundamental Updates :
Stronger Swiss Franc: The Swiss Franc has been gaining strength recently due to its safe-haven appeal amidst global economic uncertainties and geopolitical tensions. This could put downward pressure on USD/CHF.
Thank you
Key Points:
Descending Channel Breakout: The price has been trending downwards within a channel defined by two falling lines, one for resistance and one for support. This indicates ongoing selling pressure and potential for further decline.
Sell Entry: Consider entering a short position around the current price near 0.8620, offering an entry point close to the breakout level.
Target Levels: Initial bearish targets lie at the support levels of 0.8540 and 0.8470, marking previous support zones within the channel.
Stop-Loss: To manage risk, place a stop-loss order above the resistance line of the broken channel at 0.8700
Fundamental Updates :
Stronger Swiss Franc: The Swiss Franc has been gaining strength recently due to its safe-haven appeal amidst global economic uncertainties and geopolitical tensions. This could put downward pressure on USD/CHF.
Thank you
Trade active
Note
Today USD - FOMC, in my Personal opinion today USD became Weak.Note
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👉👉 Join My Free Telegram Channel :
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📞📞Telegram me @t.me/kabhidhan
Related publications
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.