LegionQ8

Swiss Franc can continue to decline inside downward channel

Short
FX:USDCHF   U.S. Dollar / Swiss Franc
Hello traders, I want share with you my opinion about Swiss Franc. Looking at the chart, we can see how the price rebounded up from the resistance area, broke the 0.8935 resistance level, and then made a correction to the support line. After this, the price bounced from the support line and made a strong upward impulse until to next resistance level, which coincided with the seller zone and in a short time broke it and rose higher. But later, the price made a correction to the support line, after which it tried to back up, but failed and started to decline inside the downward channel. In the channel, the Swiss Franc first broke the 0.9135 level and then fell to the support line of the channel. After this, the price rolled up to the resistance line of the channel, rebounded from this line, and continued to decline until to current resistance level. Also recently, the Swiss Franc broke this level too, and now price trades close this level inside the downward channel. For my mind, the price can make a little movement up to this level and then continue to fall to the support line of the channel. Therefore I set up my target at the 0.8840 level. Please share this idea with your friends and click Boost 🚀

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