FX.co ★ blaise.rogahn | USD/CHF

USDCHF Hello everyone! I am not very keen on selling against the main trend on the H1 timeframe, but there is currently an opportunity to do so in this currency pair. The selling factor is the linear regression channel on the M15 chart. Since the channel is pointing south, it emphasizes the strength of the sellers, who will try to push down towards 0.91185 where buyers are located. I am considering selling from the upper channel boundary at 0.91366. A breakthrough of bearish positions will contribute to growth, which may lead to a reversal of the channel in the opposite direction. Bears near 0.91366 will actively defend their position. They will not only aim to reach the mentioned level but also try to establish themselves below it, highlighting the strength of the sellers.

On the hourly chart, the linear regression channel is pointing upwards, indicating the strength of the buyers. Based on the channel position, a bullish trend is in place. The trend is vulnerable to weakening due to bearish presence on the M15 timeframe. Sales are made towards the lower part of the hourly channel at the level of 0.90900. The bears' task is to break this level to cancel out the purchases. Bulls, on the other hand, need to sustain the decline to continue rising towards the upper channel boundary at 0.91576. There is a selling opportunity until we reach the specified level. If there is a bullish reaction from the 0.91185 level, I will consider buying. A consolidation below this level will indicate a shift in market interest towards the sellers.