FX.co ★ blaise.rogahn | USD/CHF

Hello! In previous posts, I wrote about the likely end of the USD/CHF currency pair's uptrend as bulls tested the 0.7875 resistance and expressed the opinion that the pair would now start to decline. Of course, it would have been wise to sell the pair back then, but at that time we did not have confirmation for it. Now we have it in the form of two open bearish 4-hour candles and a stochastic reversal downwards. Therefore, the pair can be sold even now, with the expectation of the USD/CHF price falling into the support range of 0.7810 - 0.7800, where sales can be closed again and transitioned to buying near the lower Bollinger Band indicator. It is worth noting that bears have a clear interest in pushing slightly below the round level of 0.7800 now to update the pair's previous low, but this carries the risk of missing out on buying if trying to catch the price at its peaks. So, I will be closing sales and reopening buys near the round level of 0.7800.