USD/CHF Daily: Testing Ichimoku‘s Lower Band. Downside prevails.
Forex Trading idea: Short positions below Ichimoku‘s lower band targeting 0.9020
Technical reasons why: The USD/CHF pair finally broke the consolidation. The pair broke below Pivot Level and descending triangle chart pattern, reaching our first bearish target at 0.9250. More drops can be expected if the pair breaks below Ichimoku cloud. Target and support is set at 0.9020.
Alternative Scenario: Above 0.95 with no bearish confirmation, look for up-moves towards 0.97
Where to set your stops and limits on the Daily Chart:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.9250 | 0.95 | 0.97 |
| 0.9020 |
