FX.co ★ NexusTrader | USD/CHF

USDCHF Intraday Analysis: We are currently discussing an assessment of the USD/CHF price movement. If a decline occurs, support is expected at 0.79039, which could strengthen the bearish trend. It is important to note that the Swiss franc is likely to enter a lower range and consolidate at this level before continuing its decline. As the bearish trend may not be favorable at 0.79039, it is essential to open long positions that could trigger a price wave targeting 0.80809. A trend reversal is possible, creating an opportunity to open long positions that could break above 0.81589 and eventually reach the resistance level of 0.82499. This is the expected trajectory. To clarify the technical downtrend that has continued for two consecutive months, it is advisable to analyze the oldest chart from Saturday, focusing primarily on the monthly timeframe.

The price declined in October after approaching the lower boundary of the local Ichimoku Kinko Hyo and testing the Senku Span B level of 0.84759. All candlesticks for this stock have consistently been below the moving average and the local Ichimoku Cloud, indicating a strong bearish trend. The current cloud is filled with selling pressure, suggesting a temporary upward reversal before a return to a downward trend. The Stochastic oscillator shows an incomplete top, and the strengthened Relative Strength Index (RSI) is trending upwards. The last two candlesticks have stayed within a 40-degree sloping channel, forming a bottom at 0.81359. A rise to the upper limit of the price channel at 0.82209 is possible, creating a selling opportunity. Based on this data, you can formulate your trading plan for next week.