USD CONTINUES TO WEAK AGAINST CHF. SHORT POSITION IS READY!
The USDCHF price chart shows clear weakness with a distribution structure in the H4 time frame with control tilted towards the sellers.
Although the attempt to push the price down in the trading session on February 22, 2024 failed, it clearly demonstrated the strength of the sellers.
The price has successfully broken out of the lower boundary of the structure. At this time,
Trading with LONG positions is not recommended at this time. Wait for a retest of the lower boundary of the structure in the 0.8780 area to enter a SHORT position!
The potential price range that the market can move towards is at 0.8620. If the bearish scenario fails again, the market will once again find the price threshold of 0.8890.
Although the attempt to push the price down in the trading session on February 22, 2024 failed, it clearly demonstrated the strength of the sellers.
Trading with LONG positions is not recommended at this time. Wait for a retest of the lower boundary of the structure in the 0.8780 area to enter a SHORT position!
The potential price range that the market can move towards is at 0.8620. If the bearish scenario fails again, the market will once again find the price threshold of 0.8890.