Usdchfsignal
USDCHF top-down analysis Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
USDCHF Short : Evening Star & Descending Channel Resistance Trend: The trend reverses as it has made a LL and LH.
Candle Sticks: Bearish candle stick at LH of the chart.
Parallel Descending Channel Resistance: The candle is formed at the channel's resistance.
So the overall reasoning for taking a short from here is trend is downward making a descending channel with the formation of evening star at the channel resistance level. That means the price will potentially decrease from this point.
Fibonacci Retracement: The TP1 and TP2 are derived from the fib retracement points while SL is placed at the HH of the chart.
USDCHF weekly bar dictating for short #usdchf,16th-20th June weekly bar is key reversal bar made a new high closed off the low. 13th-17th June weekly insurance bar while last weekly bar 11th-15th july bar is key reversal bar dictation for weakness ahead. 0.9820 & 0.9880 supply zone for short. stop loss above weekly reversal bar i.e 0.9905 for target 0.9620.
USDCHF bearishThe Greenback have been very strong this past days, i think its time to short it short-term. i expect the USDCHF pair to drop down as it has began already this new week till we hit our level of support but my entry confirmation will be the break and retest of the Hourly chart neckline.