USDCHF at Resistance in a Downtrend — One Trigger to Watch
Today, I want to share a short setup on the USDCHF pair(
USDCHF) with you—so stick with me!
USDCHF is currently moving within a heavy support zone(0.783 CHF-0.757 CHF) on higher timeframes, and for quite some time, it’s been in an overall downtrend within a descending channel.
Looking at the 4-hour timeframe, USDCHF is near a resistance zone(0.782 CHF-0.776 CHF) and at the key resistance level at 0.776 CHF.
From an Elliott Wave perspective, it seems USDCHF is completing the main wave 4, which is part of a Double Three Correction (WXY).
I expect that after breaking support lines, USDCHF will begin to decline and at least fall to 0.767 CHF.
First Target: 0.767 CHF
Second Target: 0.762 CHF
Third Target: Potential Reversal Zone(PRZ)[0.758 CHF-0.753 CHF]
Stop Loss(SL): 0.784 CHF(Worst)
What’s your view on USDCHF? Do you think it could reach the Potential Reversal Zone(PRZ)[0.758 CHF-0.753 CHF], or are we in for another rise?
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌U.S Dollar/Swiss Franc Analysis (USDCHF), 4-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
USDCHF) with you—so stick with me!USDCHF is currently moving within a heavy support zone(0.783 CHF-0.757 CHF) on higher timeframes, and for quite some time, it’s been in an overall downtrend within a descending channel.
Looking at the 4-hour timeframe, USDCHF is near a resistance zone(0.782 CHF-0.776 CHF) and at the key resistance level at 0.776 CHF.
From an Elliott Wave perspective, it seems USDCHF is completing the main wave 4, which is part of a Double Three Correction (WXY).
I expect that after breaking support lines, USDCHF will begin to decline and at least fall to 0.767 CHF.
First Target: 0.767 CHF
Second Target: 0.762 CHF
Third Target: Potential Reversal Zone(PRZ)[0.758 CHF-0.753 CHF]
Stop Loss(SL): 0.784 CHF(Worst)
What’s your view on USDCHF? Do you think it could reach the Potential Reversal Zone(PRZ)[0.758 CHF-0.753 CHF], or are we in for another rise?
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌U.S Dollar/Swiss Franc Analysis (USDCHF), 4-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
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🎁 Free VIP Forex and Crypto Signals, please visit:
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🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.