On the 1-hour chart, USDCHF is currently forming a falling wedge pattern, a classic technical formation that often precedes a bullish breakout. Price action is compressing within a narrowing range, marked by two downward-sloping trendlines.
Key observations:
A price gap from May 10 still remains unfilled, serving as a potential area of interest for buyers. The market may look to revisit and react to this level.
The lower boundary of the wedge has acted as strong support, with multiple rejections suggesting demand interest.
A break above the upper trendline of the wedge would confirm a potential reversal, with bullish momentum likely accelerating toward the 0.8465 resistance level.
Bullish Scenario:
Breakout Entry: Wait for a decisive breakout and candle close above the upper wedge boundary (around 0.8340–0.8350).
Target 1: 0.8465 (recent swing high and gap origin)
Stop Loss: Below the recent swing low near 0.8280 or just under wedge support (0.8260)
Alternative Scenario:
If the wedge support breaks down with strong bearish momentum, the price may slide lower to retest deeper support near 0.8200.
This setup favors bulls only if the wedge breakout is confirmed. Conservative traders may wait for retest confirmation before entering long positions.
Key observations:
A price gap from May 10 still remains unfilled, serving as a potential area of interest for buyers. The market may look to revisit and react to this level.
The lower boundary of the wedge has acted as strong support, with multiple rejections suggesting demand interest.
A break above the upper trendline of the wedge would confirm a potential reversal, with bullish momentum likely accelerating toward the 0.8465 resistance level.
Bullish Scenario:
Breakout Entry: Wait for a decisive breakout and candle close above the upper wedge boundary (around 0.8340–0.8350).
Target 1: 0.8465 (recent swing high and gap origin)
Stop Loss: Below the recent swing low near 0.8280 or just under wedge support (0.8260)
Alternative Scenario:
If the wedge support breaks down with strong bearish momentum, the price may slide lower to retest deeper support near 0.8200.
This setup favors bulls only if the wedge breakout is confirmed. Conservative traders may wait for retest confirmation before entering long positions.
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.
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.