USDCHF: Top-Down Analysis & Trading Plan
The USDCHF currency pair has broken and closed below an important intraday support level, which has now become resistance.
There is a retest of this broken structure happening, after the test of the support level of 0.9020.
To consider shorting the pair, look for a bearish flag pattern on the 4-hour timeframe as confirmation.
If there is a breakout below the bearish flag support with a 4-hour candle close, it will confirm the dominance of sellers.
A bearish trend is expected to continue towards the 0.9020 support level.
There is a retest of this broken structure happening, after the test of the support level of 0.9020.
To consider shorting the pair, look for a bearish flag pattern on the 4-hour timeframe as confirmation.
If there is a breakout below the bearish flag support with a 4-hour candle close, it will confirm the dominance of sellers.
A bearish trend is expected to continue towards the 0.9020 support level.
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