The USDCHF chart shows signs of weakening of the current upward movement.
The formation of a classic Double Top reversal pattern is observed on the chart. The main signal for confirmation of the pattern is the breakthrough of the neckline, which was drawn through the minimum between the two peaks at the level 0.8122. Now the price has broken through this line, which confirms the reversal nature of the pattern.
Short positions in respect to USDCHF look more warranted strategically. More conservative traders may consider entering upon a retest of this level. With a more aggressive strategy, a trader can enter at or around the current prices.
📌 Entry: 0.8121
✔️ First target: 0.8113
✔️ Second target: 0.8108
❌ Stop order: 0.8129
