FX.co ★ Konnect2fx | USD/CHF

Good morning! I see that Monday’s session on USDCHF indeed closed with a bearish candlestick, and I note the current price is at 0.7976. I am observing the buying targets you’ve outlined on the hourly chart, and I find the Fibonacci projections particularly compelling. I believe the first target at the 161.8% level, corresponding to 0.8053, represents a logical initial resistance zone for any bullish reversal. I think the market structure will need to confirm a shift in momentum to achieve this, but I am analyzing the price action for early signs of strength. I am also focusing on the second target at the 261.8% level, or 0.8117, which I view as a more ambitious but plausible objective if buying pressure accelerates sustainably. I really share your expectation for the asset to rise, and I am considering the fundamental and sentimental factors that could drive such a move, including potential shifts in risk appetite or dollar dynamics. I am especially intrigued by the third target at the 423.6% Fibonacci extension, which I see at 0.8216; I view this as a more distant, yet technically significant, area that would likely require a major catalyst or a sustained trend to reach

However, I must always balance my outlook with key risk levels. I am closely monitoring the support at 0.7952, as I recognize that a confirmed breakout below it would fundamentally alter my analysis. I would then see the upside scenario as effectively canceled, and I would cease to consider the buying targets as relevant in the near term. I anticipate that in such an alternative scenario, new selling targets would quickly form, and I would shift my focus to identifying the next levels of potential decline. I feel this bearish alternative, while not my primary expectation, is a crucial contingency for which I must prepare. I think the price action around the current level is therefore critical, and I am watching for either a rejection to confirm the bullish path or a breakdown to trigger a strategic pivot. I believe thorough analysis requires me to hold both possibilities in mind simultaneously, even as I maintain a measured optimism for the ascent toward your outlined Fibonacci goals.