USD/CHF Long-Term Trend: Bearish
Key Resistance Levels: 0.93219, 0.93548, 0.94000.
Key Support Levels: 0.93100, 0.92858, 0.92000.
The price on the higher time frame failed to break the strong resistance zone around the 0.93100 CHF mark where the market posted a series of engulfing bearish pattern signaling that the bears are taking control of the market and this will lead to a reversal and a move to the downside.
USD/CHF Medium-Term Trend: Bearish
On the lower time frame, the price posted a double top pattern which led to a reversal after reaching the top of the ascending channel and now there is a potential that the market move to the downside but before that a higher correction could be seen toward the entry price.
Sell Limit Order @ 0.93074
TP 1 @ 0.92672
TP 2 @ 0.92000
Stop Loss @ 0.93273
Trade Safely 🙂