today let's take a look at this oncoming opportunity on USDCHF. The reason for entry would be an advanced pattern formation (Bat) but i'm always more confident when i see also structure lining up with those levels i'm looking to buy or sell something.
Here you can see a black line that represents a key structure level that acted as support/resistance...
0.985 - important strong support level
Bearish scenario: daily close below 0.985 will open the way to 0.97 (200 EMA on Weekly time frame, long term uptrend line).
Bullish: reversal around 0.985-0.99 and close above 0.995 - profit targets at 1.004, 1.0155 and 1.0345
Situation similar and correlated to DXY.