USD/CHF Making A Symmetrical Triangle & NEXT MOVE
Put your eyes on the support level trendline (ST) and dynamic resistance (DR) first, USD/CHF is creating a symmetrical triangle. It's also changing trend by hitting at ST or DR. At present, it's at ST.
By that means, it will touch T1 (0.9120), T2 (0.9160), and T3 (0.9180) soon.
And yes, don't forget to notice the rejection zone, tail, and Stoch RSI (throwing a sell signal). It helps to identify the next moves.
U.S Dollar / Swiss Franc may show sideways movement or try to test the last rejection zone low level (0.9082). It can be fake candles.
As I described in the chart, the downtrend starts after breaking our 0.9082 level. And consecutive (2 or 3) -negative candles required to start it. That will blast USD/CHF directly to 05 Aug's low-level. Afterwards, 0.9020 - 0.8990 levels.
By that means, it will touch T1 (0.9120), T2 (0.9160), and T3 (0.9180) soon.
And yes, don't forget to notice the rejection zone, tail, and Stoch RSI (throwing a sell signal). It helps to identify the next moves.
U.S Dollar / Swiss Franc may show sideways movement or try to test the last rejection zone low level (0.9082). It can be fake candles.
As I described in the chart, the downtrend starts after breaking our 0.9082 level. And consecutive (2 or 3) -negative candles required to start it. That will blast USD/CHF directly to 05 Aug's low-level. Afterwards, 0.9020 - 0.8990 levels.
Trade closed: target reached:
I had written in bold words, "...the downtrend starts after breaking our 0.9082 level. And consecutive (2 or 3) -negative candles required to start it. That will blast USD/CHF directly to 05 Aug's low-level. Afterwards, 0.9020 - 0.8990 levels."
The first target of USD/CHF (0.9020) has come.
The first target of USD/CHF (0.9020) has come.