FX.co ★ blaise.rogahn | USD/CHF

Pair USD/CHF.

The Vertex indicator today, during the peak of the European trading session, signaled that the currency pair was overbought, leading to an active decline in quotes. The signal from the indicator has not been confirmed yet. The 200 and 50 period moving averages show a stable uptrend, contradicting signals from other indicators. Sellers managed to form a 1-2-3 pattern, indicating their intention to reverse quotes downwards. Sellers also confirmed the 1-2-3 pattern by breaking through the 0.79009 level, demonstrating their strength. In this situation, I will wait for the price to decrease to the weekly pivot level, and once it consolidates below that level, I will open a sell position. After breaking the weekly pivot level at 0.79009, both moving averages will be crossed from top to bottom by candles, indicating the weakness of buyers.