The USD/CHF pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined channel pattern.
Sell Entry: Consider entering a short position around the current price of 0.8827, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels: Initial bearish targets lie at the previous support levels within the channel, now acting as potential resistance zones: 0.8780 and 0.8751. Further downside targets could be determined using other technical analysis methods like Fibonacci retracements or extensions.
Stop-Loss: To manage risk, place a stop-loss order above the broken support line of the channel, ideally around 0.8865. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you.
Sell Entry: Consider entering a short position around the current price of 0.8827, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels: Initial bearish targets lie at the previous support levels within the channel, now acting as potential resistance zones: 0.8780 and 0.8751. Further downside targets could be determined using other technical analysis methods like Fibonacci retracements or extensions.
Stop-Loss: To manage risk, place a stop-loss order above the broken support line of the channel, ideally around 0.8865. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you.
👉👉 Join My Telegram Channel :
✳️✳️ Free Forex Signals & Technical Chart : telegram.me/kabhifx
📞📞Whatsapp me @ (+91) 97888-12123
✳️✳️ Free Forex Signals & Technical Chart : telegram.me/kabhifx
📞📞Whatsapp me @ (+91) 97888-12123
CHF - CPI Data - Next 4 Hours