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USD/CHF Potential Downward Movement

USD/CHF Long-Term Trend: Bearish

Key Resistance Levels: 0.87656, 0.88491, 0.88950

Key Support Levels: 0.87153, 0.86859, 0.86501

Daily Chart:

The price on the higher time frame has been in a downtrend recently after it faced resistance at the 0.90837 level and reversed back. The pair has continued to break a few support levels which suggests further 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 faced resistance at the 0.88491 level and started a downward momentum. As of now the pair has broken a support level of 0.87656 and retested before continuing the momentum.

Signal Idea:

Sell Limit Order @ 0.87468

TP @ 0.87202

Stop Loss @ 0.87734

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

4 comments

  1. This setup hit the SL again, I realised this has been the case for the past 2 trades. Care to explain why?

  2. I missed this trade because I wasn’t online when you posted it. Please at what time do you post such everyday. I am on GMT+1.

    • It’s not the same time every day, but it’s pretty much always published by 8am EST, before NY open. Sometimes they show up earlier.

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