USDCHF → Buyers don't believe in growth? Waiting for a breakdown
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USDCHF is closing in a consolidation range amid a strong bearish trend accompanied by a decline in the dollar index. Accent on 0.840 and downside resistance.... On d1 after a strong fall a stop is formed with subsequent consolidation, which shows the outlines of a descending triangle, which can be interpreted as an active selling of the price by bears against the absence of a strong buyer, who put all his strength at 0.84 to hold this area.
The struggle continues and regarding the previously mentioned boundaries: 0.840 and downside resistance, we can form 2 strategies:
1) Break of 0.84 support and subsequent downward thrust.
2) An attempt to recover (there may be some economic reasons) which may lead to a break of resistance and momentum, but not for long....
Resistance levels: 0.85, 0.852
Support levels: 0.84, 0.833
Still, based on the general market behavior and chart structure, we can assume that the buyers do not believe in further growth. In the short-term (medium-term) perspective I am waiting for support breakout and fall....
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Regards R. Linda!
Trade active
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There could be downward momentum from the opening of the session....
Or a small pullback and a breakout retest
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