USDCHF (1W) – Preparing for a Potential Reversal

The chart shows strong bearish momentum, but price is approaching a potential demand zone, though it hasn't fully tested it yet. The main focus is on the 0.8080–0.8095 area, aligned with the 0.618 Fibonacci level — a key point where a bounce may occur.

Key Levels:

🔹 Buy Zone #1: 0.8080–0.8095
→ 0.618 Fibonacci, previous consolidation, and a potential reversal point
🔹 Buy Zone #2: 0.7780–0.7800
→ 0.786 Fibonacci, deeper support and lower boundary of the structure

Scenario:

The current structure hints at a possible W-pattern formation after a dip into the demand zone.
If the bullish scenario plays out, potential recovery targets include:
→ 0.8300–0.8500 – initial correction targets
→ 0.8770 – major resistance (Fibo 0.236)

Alternative View:

If price breaks below the 0.7780 level, the structure would shift bearish — next area of interest could form below 0.75.

USDCHF is in a wait-and-watch zone. The downward move continues, but key levels (especially 0.8080 and 0.7780) are worth watching as potential demand zones. There’s a high probability of a technical bounce or reversal setup developing once these zones are tested.