US Dollar / SWISS FRANC H4 Time Frame
Major Trend = Downtrend
Minor Trend = Downtrend
Nearest Support Area = 0.88230-0.88555
Nearest Resistance Area = 0.89600-0.89900
Overall Bias = Short (Possible Reversal Soon)
Short Term Target = 0.878875-0.88250
Ideal Target = 0.90900-0.91250
Invalidation Level = 0.87480
Notes :
USDCHF have been in a long downtrend ever since late last year, USDCHF current position is near its major support zone & its 3rd minor wave end with price making an ending diagonal.
Our 1st Main And "Ideal" Scenario is the black paths where price will most likely finish its 3rd wave correction to 0.878875-0.88250 before slowly rebounding to 0.90900-0.91250 whilst also making its 4th wave. This scenario will be invalidated if price breaks down below 0.87480.
Our 2nd "Worst Case" Scenario is the red paths where price will just continue its correction lower caused by the ever weakening US Dollar to new yearly lows around 0.86650-0.86825.
Major Trend = Downtrend
Minor Trend = Downtrend
Nearest Support Area = 0.88230-0.88555
Nearest Resistance Area = 0.89600-0.89900
Overall Bias = Short (Possible Reversal Soon)
Short Term Target = 0.878875-0.88250
Ideal Target = 0.90900-0.91250
Invalidation Level = 0.87480
Notes :
USDCHF have been in a long downtrend ever since late last year, USDCHF current position is near its major support zone & its 3rd minor wave end with price making an ending diagonal.
Our 1st Main And "Ideal" Scenario is the black paths where price will most likely finish its 3rd wave correction to 0.878875-0.88250 before slowly rebounding to 0.90900-0.91250 whilst also making its 4th wave. This scenario will be invalidated if price breaks down below 0.87480.
Our 2nd "Worst Case" Scenario is the red paths where price will just continue its correction lower caused by the ever weakening US Dollar to new yearly lows around 0.86650-0.86825.