USDCHF: Scenarios & Key Supply/Demand Points
USDCHF is trading in a bearish trend.
the price is steadily falling within a channel.
on 4H the price is currently contracting with a descending triangle formation.
it is the classic consolidation pattern and the side of its breakout will show us the midterm direction of the pair.
in case of a bullish violation of the resistance line of the triangle,
goal for buyers will be the resistance of the above-mentioned channel.
from that point, a bearish reaction will most likely follow.
in case of a bearish violation of the support line of the triangle,
goal for sellers will be 0.903 level based on a current 4h structure low.
I am bearish biased due to a daily bearish trend,
but let's see what's gonna happen.
✅Join My Telegram Channel: t.me/VasilyTrading
❗️YouTube Channel youtube.com/c/VasilyTrader
💰Instagram: instagram.com/VasilyTrader/ 💰
✅Facebook: facebook.com/VasilyTrading/ ✅
❗️YouTube Channel youtube.com/c/VasilyTrader
💰Instagram: instagram.com/VasilyTrader/ 💰
✅Facebook: facebook.com/VasilyTrading/ ✅
Related publications
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.