Sell USDCHF Channel Breakout

The USD/CHF pair on the H1 chart exhibits a bearish signal suggesting a potential decline in the coming hours. A recent downside breakout from a descending channel pattern could offer a shorting opportunity.

Key Points:

Descending Channel Breakout: The price has been trending downwards within a channel defined by two falling lines, one for resistance and one for support. This indicates ongoing selling pressure and potential for further decline.

Sell Entry: Consider entering a short position around the current price near 0.8620, offering an entry point close to the breakout level.

Target Levels: Initial bearish targets lie at the support levels of 0.8540 and 0.8470, marking previous support zones within the channel.

Stop-Loss: To manage risk, place a stop-loss order above the resistance line of the broken channel at 0.8700

Fundamental Updates :

Stronger Swiss Franc: The Swiss Franc has been gaining strength recently due to its safe-haven appeal amidst global economic uncertainties and geopolitical tensions. This could put downward pressure on USD/CHF.

Thank you

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Comment:

Today USD - FOMC, in my Personal opinion today USD became Weak.

Comment: