USD/CHF Long-Term Trend: Bearish
Key Resistance Levels: 0.8990, 0.9046, 0.9092
Key Support Levels: 0.8931, 0.8890, 0.8855
The price on the daily time frame is in a clear downtrend where it posted lower lows, and highs. Recently, the pair violated the daily support (now resistance) around the 0.8990 USD mark. It succeeded to break it and close below it which could lead to a further downside movement in the same direction of the main trend.
USD/CHF Medium-Term Trend: Bullish
On the lower time frame, the price is trading inside a bearish flag formation, where the pair is forming a bearish head and shoulders. This could lead to a downward movement which might breaks the flag formation to the downside and continue its movement all the way down to the target profit.
Sell Limit Order @ 0.8989
TP 1 @ 0.8934
TP 2 @ 0.8890
Stop Loss @ 0.9016
Trade Safely 🙂