The pressure on USDCHF is easing. This could lead to a reversal in the price movement.
A Double Bottom pattern is being formed on the chart. The key element to confirm the pattern is the breakdown of the neck line, which is drawn through the high points between the two troughs at the level 0.77948. The first scenario assumes that the price will consolidate above the neckline and continue to move upward, confirming the reversal. In the second scenario, a pullback below the neckline is possible.
The chart shows, that it might be strategically more profitable to open long positions in USDCHF.
📌 Entry: 0.77949
✔️ First target: 0.78104
✔️ Second target: 0.78208
❌ Stop order: 0.77818
