Breaking News

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?

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Your email address will not be published.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!