USD/CHF: Possible Reversal Pattern
🇨🇭🇺🇸USD/CHF: Possible Reversal Pattern🌄
📉 On the 4-hour chart of the USD/CHF pair, we might be seeing a reversal pattern – a triple top. 🧠 On Friday and today during the Asian session, the base of the top at 0.90 was broken. Now, price is trying to test this key support level as resistance. If there’s a bounce and price doesn’t return above 0.90, we expect the triple top pattern to play out, with a gradual decline in the USD/CHF rate, targeting the first support level at 0.89. 🚀
Looking at the 30-minute chart, the price is moving in a parallel channel with a slight upward slope. 📈 We are ready to open a short position if the price breaks the channel down. With low liquidity due to the US holidays, the breakout may happen either today or likely tomorrow when the market returns to normal. 🕒
📉 On the 4-hour chart of the USD/CHF pair, we might be seeing a reversal pattern – a triple top. 🧠 On Friday and today during the Asian session, the base of the top at 0.90 was broken. Now, price is trying to test this key support level as resistance. If there’s a bounce and price doesn’t return above 0.90, we expect the triple top pattern to play out, with a gradual decline in the USD/CHF rate, targeting the first support level at 0.89. 🚀
Looking at the 30-minute chart, the price is moving in a parallel channel with a slight upward slope. 📈 We are ready to open a short position if the price breaks the channel down. With low liquidity due to the US holidays, the breakout may happen either today or likely tomorrow when the market returns to normal. 🕒
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