FX.co ★ blaise.rogahn | USD/CHF

USD/CHF The franc quotes are stuck in a triangular pattern, clearly visible on the daily timeframe, while the overall trend remains downward. There is a possibility of a continuation of the downward movement and a subsequent breakout from the triangle to the downside. However, selling at this point may not be very profitable. It would be better to look for upward impulses and consider buying on pullbacks, as prices are currently very low. It would be interesting to see a strong upward impulse, and then consider entering long positions on pullbacks. But for now, it is clearly too early and risky to buy, as there are no indications for it, and it is unclear where to place stops. Therefore, it is possible that we will move down to hit buyers' stops at the level of 0.78290, and then proceed to the upside.