USD/CHF - H4 - Wedge Breakout

1 Ara

The USD/CHF pair on the H4 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Wedge pattern. This suggests a shift in momentum towards the downside in the coming Days. USDCHF

Key Points:

Sell Entry: Consider entering a short position around the current price of positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.

Target Levels:
1st Support – 0.8689
2nd Support – 0.8619


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1 Ara

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Fundamental Updates :
1. The Swiss Franc often acts as a safe-haven currency during times of geopolitical tensions.

2. Any escalation in global tensions or negative economic news could strengthen the CHF and weaken the USD/CHF pair.