R.Linda Trading - forecast

Trading signals for #USDCHF → A breakout of trend support. Retest is a signal

FOREX forecast
💱 Ideas For USDCHF 🇺🇸/🇨🇭

📈 USDCHF → A breakout of trend support. Retest is a signal

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#USDCHF is entering the correction phase after a prolonged bullish trend. The trigger is the DXY correction (on the local timeframe).The support at 0.89866 may be broken soon

On the chart, we see a breakout of the support of the ascending price channel. The support tandem consists of the ascending line and 200-SMA, which is a rather strong signal, foreshadowing a medium-term decline. We consider 0.8778 as a target, as there is a strong liquidity accumulation in this area, which may interest the market. The dollar index is going down through local support and is preparing to test 105.8 and 105.5 - this movement will affect the forex market accordingly.

Support levels: 0.89866, 0.8932

Resistance levels: previously broken trend support, 0.9030

In the long term, I expect a break of the nearest support with the formation of a medium-term decline to the above targets.

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#USDCHF 🇺🇸/🇨🇭


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