FX.co ★ blaise.rogahn | USD/CHF

After collecting liquidity, the USD/CHF currency pair is about to surprise everyone. Higher timeframes retain their defining role. Buyers are preparing for active moves. You can see how sellers are trying to break into the 0.8060 - 0.8024 area, but nothing good awaits them there. If the correction is successful, the engulfing wave will be sharp. Buyer activity will increase many times over. There is no better place to lock in the projected position than the first boundary of the third volatility zone at 0.8122. I hope the distribution cycle is almost complete and we will soon see a bright northern rally. In case of surprises, it’s better to place a stop at 0.7986. The probability is small, but still shouldn’t be completely ruled out.