The balance of power in USDCHF is gradually improving. Market sentiment is becoming more positive for purchases.
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 0.79872. 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.
It is recommended to prioritize long positions on USDCHF in the current situation. Entry points can be selected both at current prices and based on an outcome of a retest of the specified resistance level.
📌 Entry: 0.79886
✔️ First target: 0.80190
✔️ Second target: 0.80402
❌ Stop order: 0.79607
