👩🏽💻Technical: Over the past three months, the price of USD/CHF has been on a decline due to a weaker US dollar caused by lower inflation and expectations of lower interest rates. However, it appears that the price has found a strong bullish momentum from the 0.91155 level. The price is currently developing a bullish hammer on the weekly TF, which indicates a potential shift in the trend. On the 4 hour chart, the price has recently bounced, with both MAs additionally adding up to a confirmation list for a potential buy.
🎯 For an ideal entry: The price must break the channel and break above the resistance as I marked in the photo, push > exhaustion scenario and that would conclude that the breakout is confirmed.
🎯 For an ideal entry: The price must break the channel and break above the resistance as I marked in the photo, push > exhaustion scenario and that would conclude that the breakout is confirmed.