FX.co ★ Aldreda | USD/CHF

USD/CHF The USD/CHF prices and what we can infer from it. Yesterday, the currency pair finally went into a correction, which I have been waiting for the second week now, and this is delaying trading on this instrument. Without it, there were no conditions for trade. The intermediate level of 0.9080 can be said to have already been visited, and here they can give a slight upward zigzag, but this is not necessary. And after that, it will be possible to target the main correction target of 0.9000. I’m not looking lower yet, since the mark is quite strong and could kick us and send us north again. On the daily chart, the price was inside the ascending channel. Having previously reached the lower border of this channel, the pair broke through it downward, and the price continued to decline. Now I expect that The pair may continue to decline. If you look at the H4 chart, the price is inside the ascending channel, and now I expect that the price will continue to move down to the lower border of this channel, which is to the level of 0.9047. Having reached this level, a reversal may occur, and the price will again begin to move upward to the upper border of this channel. The pair may break through the channel downward, and then the price will continue to decline to the level of 0.8925. It seems that we have already come to the point of supporting a channel that holds the price well, and in principle, we can now start buying. Only now, there is a possibility of a restructuring of the same channel along the resistance, which can also rearrange the support to its degree, and it will be lower. But at the moment, I hope that support for the current version will remain. I am sure that the pessimistic forecast is wrong. The Bulls probably have great potential. Although getting out of the current situation still seems difficult for them, they do not stop their efforts. If this trend continues, we will soon see an upward movement. Of course, the bears still have influence, but they wouldn't give up the initiative unless they were pushed. Let's see what statistics appear on the calendar. USD/CHF reacts to the release of economic data. When the price tends to rise significantly, it will be important to pay attention to the likelihood of a corrective move down. Anticipating strong data is highly likely to influence price increases in the market. At the moment, the situation is not as clear as I would like. But at the moment, I have decided that only the northern direction to the first resistance level of 0.9208 is a priority. I will not rule out a correction to the nearest weak support level, and after that, we will move towards the north. If bears are more active today, then there will be no talk of any movement to the north, and we will have to adapt to the current situation.