USDCHF, Further Continuation Since Ascending-Wedge Completed!

Hello,

Welcome to this analysis about USDCHF, we are looking at the 2-hour timeframe perspectives. USDCHF recently has formed some important and decisive determinations as it already completed this ascending-wedge-formation in the structure bearishly to the downside which is marked in my chart it also moved below this support-resistance-line which is now support marked in red in my chart where it also has the 260-EMA in red as resistance. Below these levels USDCHF is now forming this local channel which is likely to be a bear-flag as USDCHF already pulled back from resistance there is a high possibility given that this channel confirms as a bear-flag in the near future. When this happens as expected USDCHF will approach the lower target-zones mainly within the 0.9065 level marked in my chart in blue which are the appropriate full targets of the whole wedge-formation. When these targets are reached it has to be considered how USDCHF evolves then, as there is good support still in this level a potential initial back-up-bounce can be considered. For now, the further bearish continuation should be expected and should not be kept by side.

In this manner, thank you for watching my analysis about USDCHF and the bearish possibilities that are likely to follow up in the near future with the upcoming determinations, have a good day and good weekend, will be great when you support it with a like and follow or comment, great contentment for everybody supporting, all the best!
"There is a time to go long, a time to go short, and a time to go fishing."

Information provided is only educational and should not be used to take action in the markets.