USD/CHF Potential Downward Movement

USD/CHF Long-Term Trend: Bearish

Key Resistance Levels: 0.9174, 0.9242, 0.9316

Key Support Levels: 0.9089, 0.9035, 0.8976

Daily Chart:

The price on the higher time frame has been in a downtrend for some time after it reversed from the 1.0125 area. It has broken a major level of 0.9542 and not a minor level of 0.9213 is also broken which shows signs of trend continuation. 

USD/CHF Medium-Term Trend: Bearish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a consolidation zone of 0.9316 and 0.9242 and has sustained below that. As of now the pair has also broken and retested a minor level of 0.9174 before continuing the momentum.

Signal Idea:

Sell Stop Order @ 0.9144

TP @ 0.9099

Stop Loss @ 0.9189

Trade Safely 🙂