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USD/CHF Potential Downward Movement

USD/CHF Long-Term Trend: Bearish

Key Resistance Levels: 0.92330, 0.93695, 0.94000.

Key Support Levels: 0.91345, 0.90448, 0.90400.

Daily Chart:

The price on the higher time frame is traded between two key levels which are the support & resistance with the respective values 0.91345 & 0.92330 CHF. The market failed to break resistance and reversed to the downside which might continue all the way down to the support.

USD/CHF Medium-Term Trend: Bearish

1-Hour Chart:

On the lower time frame, the price is in a clear downward movement where it posted a double top formation and moved lower. A higher correction could be seen to the neckline before a new bearish impulsive wave toward the target profit.

Signal Idea:

Sell Limit Order @ 0.91839

TP 1 @ 0.91362

TP 2 @ 0.90448

Stop Loss @ 0.92071

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.

One comment

  1. Where can I find usd/chf on mt4?

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