The descending trend line was broken out to the upside and price has closed bullish strong 4H candles above the line.
There is a resistance zone around 0.9360 which has pushed the price to the downside for several times in the past, and currently price is pushing to the downside after retesting it.
Since price is facing a bullish pressure and is trying to break the red resistance zone, there is a possibility of creating a reversal H&S pattern (price is making the right shoulder).
If price breaks the red resistance zone and closes a bullish candle above this area, I expect a rise on USDCHF.
There is a resistance zone around 0.9360 which has pushed the price to the downside for several times in the past, and currently price is pushing to the downside after retesting it.
Since price is facing a bullish pressure and is trying to break the red resistance zone, there is a possibility of creating a reversal H&S pattern (price is making the right shoulder).
If price breaks the red resistance zone and closes a bullish candle above this area, I expect a rise on USDCHF.
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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.