The pressure on USDCHF is easing. This could lead to a reversal in the price movement.
A Double Bottom pattern has formed on the chart, indicating a possible upward reversal. An important signal to confirm of this pattern is the breakthrough of the neck line located at the level 0.79321. A breakdown of the neckline endorses a trend reversal scenario and opens up opportunities for further price growth. To do this, we must see the price consolidate above this line.
Currently, trading USDCHF assumes the priority of long positions. A trader can enter the market both at the current levels or when retesting of the resistance level occurs.
📌 Entry: 0.79325
✔️ First target: 0.79620
✔️ Second target: 0.79819
❌ Stop order: 0.79072
