USD/CHF is showing strong signs of reversal as price attempts to break out of a prolonged descending channel After weeks of bearish pressure momentum may be shifting
🧠 Technical Overview:
Previous Bearish Structure: The market respected a descending triangle followed by a downward channel pushing price to new lows
Triangle Formation: A range-bound triangle developed in early June, acting as a base for potential reversal
Bullish Breakout in Progress: Price is currently testing the descending channel’s upper trendline and forming higher lows—indicating buyer interest.
📌 Key Price Zones:
Support: 0.8147
Bullish Order Block: 0.8175
Potential Breakout Zone: 0.8208
First Bullish Target: 0.8247
Main Resistance: 0.8347
✅ Possible Play:
A clean breakout and retest of 0.8208 could validate a bullish run toward 0.8247, with an extended target near 0.8347. Watch for lower timeframe confirmation if price forms a bullish flag or consolidation above support.
Summary: USD/CHF is shifting structure. With the descending trend weakening, this could be a solid opportunity for buyers—provided the breakout holds. Stay sharp and patient for a confirmed move.
Your likes and comments are incredibly motivating and will encourage me to share more analysis with you!
Best Regards TrendLinford!
🧠 Technical Overview:
Previous Bearish Structure: The market respected a descending triangle followed by a downward channel pushing price to new lows
Triangle Formation: A range-bound triangle developed in early June, acting as a base for potential reversal
Bullish Breakout in Progress: Price is currently testing the descending channel’s upper trendline and forming higher lows—indicating buyer interest.
📌 Key Price Zones:
Support: 0.8147
Bullish Order Block: 0.8175
Potential Breakout Zone: 0.8208
First Bullish Target: 0.8247
Main Resistance: 0.8347
✅ Possible Play:
A clean breakout and retest of 0.8208 could validate a bullish run toward 0.8247, with an extended target near 0.8347. Watch for lower timeframe confirmation if price forms a bullish flag or consolidation above support.
Summary: USD/CHF is shifting structure. With the descending trend weakening, this could be a solid opportunity for buyers—provided the breakout holds. Stay sharp and patient for a confirmed move.
Your likes and comments are incredibly motivating and will encourage me to share more analysis with you!
Best Regards TrendLinford!
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.