USDCHF Trading plan until the end of the year

The USDCHF pair is trading within a Channel Up pattern ever since it made its low on the 2021 Higher Lows zone (started January 2021) just below the 1D MA200 (orange trend-line) on August 11 2022. After another bounce on the 1D MA200, the price established the 1D MA50 (blue trend-line) as its Support and even tested and marginally broke (on a candle wick) the 1.00650 Resistance Zone, which should be considered still a Triple Top since the price failed to close a candle above it.

We see a stable pull-back on Lower Lows since Oct 14, which can be considered just a Bull Flag unless the Channel Up bottom (Higher Lows trend-line) breaks. Until then the break-out (above the Flag) and Channel Up bottom test, should be bought, targeting the Triple Top Resistance. A break above this Resistance should target the top (Higher Highs trend-line) of the Channel Up.

On the other hand, a closing below the Channel Up bottom (Higher Lows) should target the 1D MA200 and if that breaks too, the 2021 Higher Lows Zone again, where it can finally make contact with the 1D MA300 (yellow trend-line). On the long-term, a break below that Zone constitutes a shift from bullish to bearish and we should look for new patterns. We will follow that with updates so stay tuned.





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