USDCHF – Short Setup Following 5-Wave Completion

USDCHF Sell Limit
Entry: 0.8185
Target: 0.8117
Stop Loss: 0.8210

Duration: Intraday
Expires: 24/06/2025 08:00

Technical Overview

• A 5-wave bullish Elliott Wave sequence appears to have completed at 0.8216, suggesting a corrective phase may follow.
  
• Price is testing bespoke resistance at 0.8185, where we anticipate fresh selling interest.
  
• Although mild early-session buying is possible, upside is expected to be limited, and the broader view favors further downside.
  
• We prefer to initiate short positions early, targeting a move back toward 0.8117.
  

Two key U.S. PMI reports (Manufacturing & Services) are scheduled for 16:45 UTC, potentially adding short-term volatility.

Key Technical Levels

• Resistance: 0.8185 / 0.8210 / 0.8216
  
• Support: 0.8140 / 0.8117 / 0.8085
  

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