The USDCHF instrument is currently trading in a downtrend. When opening a short position from local levels at 0.788, the target level will be the local minimum at 0.789. In this case, the stop loss will be set above the maximum at 0.793, confirming the downtrend. Also, a sell signal will occur after the currency is fixed below the minimum of 0.788, indicating a continuation of the downward trend. If the currency pair returns above the critical maximum of 0.793 and consolidates above this range, there will be a trend reversal towards a long direction. The next target for a potential uptrend could be the following maximum at 0.798. Hello traders!
