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VasilyTrader
Aug 27, 2020 6:07 AM

USDCHF: Scenarios & Key Supply/Demand Points 

USD/CHFOANDA

Description



USDCHF is trading in a bearish trend.
the price is steadily falling within a channel.

on 4H the price is currently contracting with a descending triangle formation.
it is the classic consolidation pattern and the side of its breakout will show us the midterm direction of the pair.

in case of a bullish violation of the resistance line of the triangle,
goal for buyers will be the resistance of the above-mentioned channel.
from that point, a bearish reaction will most likely follow.

in case of a bearish violation of the support line of the triangle,
goal for sellers will be 0.903 level based on a current 4h structure low.


I am bearish biased due to a daily bearish trend,
but let's see what's gonna happen.
Comments
VasilyTrader
Are you bullish or bearish on USDCHF?
Fisher_Fx
@VasilyPonomarev, Im bullish as of now
VasilyTrader
@Fisher_Fx, thank you for comment!!!
Trading-Guru
@VasilyPonomarev, We've reached the goal for sellers now, so I am bullish again! This is how I am looking at it:
Saeed966
It seems that it will break the falling wedge

VasilyTrader
@Saeed966, good idea!
BalticForex
Still actual analysis
VasilyTrader
@BalticForex, good outlook!!!
ProjectSyndicate
nice work, keep it up, looks good!
VasilyTrader
@ProjectSyndicate, thank you my friend😊
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