FX.co ★ hickle.manuela | Comprehensive Analysis in Trading: Mastering Methodologies

Hello traders, USD/CHF Good Sunday evening! Judging by the position of the currency pair quotes of the US dollar / Swiss franc on the daily chart, the last movement we observed was to the north. However, it most likely ended when reaching the level of 0.8010, from where the USD/CHF pair bounced down. At the same time, the daily stochastic has only just started to decline and has enough potential to support the bears in their further move to the south. Considering the pace of price movement, we can expect the USD quotes to fall to around the support area of 0.7830, and I believe by that time the D1 stochastic will finish its decline to the lower boundary of its indicator. Therefore, near the specified target, I expect to receive a new mark from the "Zigzag" indicator indicating the end of the decline with a subsequent reversal of the pair upwards and growth towards testing the upward breakout resistance at 0.8040, which corresponds to two local highs of the pair marked by the "Zigzag" indicator from January and the end of March of this year.