USD/CHF Head and Shoulders Pattern Signals Bearish Reversal

6 Haz

The USD/CHF 4-hour chart shows a clear Head and Shoulders pattern, a classic reversal signal. The Left Shoulder, Head, and Right Shoulder are well-formed, suggesting bearish momentum. The price is currently consolidating below the neckline, indicating a potential breakout to the downside. The Ichimoku cloud confirms resistance above the current price level, adding further bearish bias. If the price breaks below the neckline decisively, a significant downward move is expected.

Entry point: 0.82080
First target: 0.80638
Second target: 0.79500

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6 Haz

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