Breaking News

USD/CHF Potential Downward Movement

USD/CHF Long-Term Trend: Bearish

Key Resistance Levels: 0.9373, 0.9440, 0.9500

Key Support Levels: 0.9210, 0.9044, 0.8920

Daily Chart:

The price on the higher time frame was in a clear uptrend before reaching a strong resistance around the 0.9440 USD level. The price reversed and broke the uptrend to the downside. A further downside movement is expected toward the 0.9210 USD mark.

USD/CHF Medium-Term Trend: Bearish

1-hour Chart:

On the 1-hr time frame, the price is trading inside a bearish channel. The pair posted a correction count to the resistance level where it found some sellers. We have a 61.80% Fibonacci retracement level @ 0.9268 USD that pushed the price to the downside.

Signal Idea:

Sell Market Order @ 0.9252

TP 1 @ 0.9212

TP 2 @ 0.9044

Stop Loss @ 0.9268

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download My Free Robot

Get your Robot Now!






Free Robot!