USDCHF remains overall bullish, continuing to trade inside the red ascending channel.
Today's weaker than expected Non-Farm Payrolls (NFP) report put pressure on the US Dollar, adding more probability to the current pullback in USDCHF as a corrective move within the broader bullish trend.
After rejecting the upper boundary of the channel and the nearby resistance area, price is now moving toward the lower boundary of the channel, which aligns with the blue support zone.
⭕As price approaches this area, we can start looking for buy setups on lower timeframes in alignment with the broader bullish trend.
⭕However, if price breaks below the channel and loses the blue support area, the current bullish structure would weaken and the focus would shift toward lower support levels.
The reaction around this support area may provide a better indication of whether the broader bullish trend remains intact, or if the current pullback is developing into a deeper correction.
⚠️*Disclaimer: This analysis reflects my personal market view and is not financial advice.*
Rayan Nasser
#USDCHF #USD #CHF #Forex #TechnicalAnalysis #PriceAction #Trading #MarketStructure
Today's weaker than expected Non-Farm Payrolls (NFP) report put pressure on the US Dollar, adding more probability to the current pullback in USDCHF as a corrective move within the broader bullish trend.
After rejecting the upper boundary of the channel and the nearby resistance area, price is now moving toward the lower boundary of the channel, which aligns with the blue support zone.
⭕As price approaches this area, we can start looking for buy setups on lower timeframes in alignment with the broader bullish trend.
⭕However, if price breaks below the channel and loses the blue support area, the current bullish structure would weaken and the focus would shift toward lower support levels.
The reaction around this support area may provide a better indication of whether the broader bullish trend remains intact, or if the current pullback is developing into a deeper correction.
⚠️*Disclaimer: This analysis reflects my personal market view and is not financial advice.*
Rayan Nasser
#USDCHF #USD #CHF #Forex #TechnicalAnalysis #PriceAction #Trading #MarketStructure
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免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。