FX.co ★ blaise.rogahn | USD/CHF

For USD/CHF there is a hint of a corrective decline from current prices to 0.8150–0.8130. Let’s see how this wave plays out. There’s nothing interesting for buying right now anyway, the main upward move has already been worked out. Now it’s preferable to wait for a decline to define a local support level and then go long from there. But I’m not expecting a prolonged rise in usdchf, since on the H4 timeframe there are also conditions for a decline. That is, several timeframes at once are ready for a downward correction. And this significantly weakens the buy signals inside the move. Plus all the nearest upside targets have already been taken out. As an alternative scenario, I’m considering a rise to 0.8200, but there I’ll also be looking for counter-trend shorts.