USDCHF: 2 Scenarios Explained 🇺🇸🇨🇭

20 Okt 2022

Update for USDCHF.

The price is currently approaching a key daily structure resistance.
Depending on the reaction of the price to that, I see 2 potential scenarios:

If the price breaks and closes above the underlined blue zone on a daily,
a bullish continuation will be expected to 1.02

Analyzing intraday time frames, I spotted a triple top formation on 1H time frame.
1.0036 - 1.004 is its neckline. If the price breaks and closes below that, I will short the pair.
Targets will be 0.9985 / 0.9935

Wait for a breakout, then follow the market.

What do you expect?

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