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Usdchfsetup

USDCHF - CURRENT SITUATION#USDCHF - At this point, USDCHF is going down a bit. But with US PMI DATA and LABOR DATA being POSITIVE, USDCHF was BUY until last Friday. And FED UPDATES were very NEGATIVE. Hence, the CHF automatically rose against the USD in the previous days. Anyway, SWISS NATIONAL BANK has come out of NEGATIVE RATES. Anyway, RETAIL SALES POSITIVE came in US. - Currently, the MARKET is becoming RISK ON and USD is a bit WEAK because of that. Anyway, the FED MEETING is scheduled to be held today. Yesterday US CPI data was NEGATIVE. That's why USD was WEAK yesterday. - There is definitely a high possibility that USDCHF will go UP a little more and move to the 0.9462 LEVEL. Anyway, USDCHF price can go down to 0.8860 level after FED EVENT. We focus on MARKET UPDATES and MARKET SENTIMENT. Follow the given MARKET STRUCTURE.
by benny_marshall
USDCHF | Don't miss this Sell Opportunity.When it comes to the technical analysis of  USDCHF , considering the resistance and support areas in higher timeframes, this currency pair is still in downtrend. So we likely to see a strong impulse to the downside as soon as the price finds a strong resistance area, which is the R1 area marked on the chart. So it would be a good area to go short. However, the next supply area is too far from the R1. So if you are going in, make sure to place the stop loss according to your risk/trade. To be on the safe side, before going in, at least wait for the price to break the S1 and retest. First and second targets are also marked on the chart(T1&T2). What do you think is more likely to happen? Please share your thoughts in comment section. And also give a thumbs up if you find this idea helpful. Any feedback & suggestions would help in further improving the analysis. If you find this technical analysis useful, please like & share our ideas with the community. Good Luck! Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Short
by FX-Storm2022
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