USDCHF is currently moving in a triangle which, when looked from a higher timeframe (say monthly) suggests a bearish continuation pattern. Right now price has reached the upper side of the triangle which is in confluence with a strong supply zone. We now wait for a bearish pattern on lower timeframe to secure a sell entry which will more likely be fueled by the NFP numbers which are expected to come out later this week.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.