As you can see from the following trade opportunity alert for USD/CHF, this currency pair recently broke the lower support trendline of the daily Up Channel chart pattern identified by Autochartist. The pair is expected to continue the downward movement in the direction of the target level 0.9039 in the next 3 trading days. The pair recently corrected shortly up from the support level 0.9205 (point A, which is the level of the last reversal point of the lower support trendline of this chart pattern). This level was given earlier when this setup was initially identified by Autochartist (as you can see on the second chart below) and could have been used to take profits on the sell entries.
USD/CHF 1" width="600" height="371">
As you can see on the following trade opportunity alert that was previously generated by Autochartist for USD/CHF – the aforementioned support level A (0.9205) was initially set as the target level for the recent downward impulse from the top of this Up Channel. You will note, on the above chart, the sharpness of the recent fall toward this target. Having recently reached 0.9205, the pair is expected to fall to the lower target level 0.9039 in the next 3 trading days.
USD/CHF 2" width="600" height="365">
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USD/CHF: Moving Downward
Published 06/17/2013, 07:00 AM
Updated 03/09/2019, 08:30 AM
USD/CHF: Moving Downward
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