Good morning, traders! Today we bring you our analysis of USD/CHF, which is at a critical point, and we think it is worth taking into account.
🔸As we can see, the price has been in a downtrend for some years.
🔸A few days ago, due to the Fed announcements, the Dollar gained strength, which pushed the price higher, and it reached the broken trend line.
🔸It clearly failed to break above that price level and is slowly moving lower. The vision is not confirmed yet since we consider it too early to affirm that it was rejected.
🔸What we expect on the 4H chart to confirm the vision is something similar to the following:
🔸The objective is to see an impulse that moves a little more in the direction and then some small consolidation process that allows us to position a trade with a correct R/R ratio.
🔸As we can see, the price has been in a downtrend for some years.
🔸A few days ago, due to the Fed announcements, the Dollar gained strength, which pushed the price higher, and it reached the broken trend line.
🔸It clearly failed to break above that price level and is slowly moving lower. The vision is not confirmed yet since we consider it too early to affirm that it was rejected.
🔸What we expect on the 4H chart to confirm the vision is something similar to the following:
🔸The objective is to see an impulse that moves a little more in the direction and then some small consolidation process that allows us to position a trade with a correct R/R ratio.