FX.co ★ USD/CHF

On the H1 timeframe, there is a predominant southward movement on the USDCHF pair, with the 120-period moving average also indicating a short direction as it is positioned above the price. The descending structure is confirmed by the Zig Zag indicator, as significant lows are decreasing. The strength of sellers is further confirmed by the closing of the H1 candle below the moving average at the level of 0.7920. Therefore, selling is more favorable than buying. I plan to sell from the resistance level at 0.7920 with the first potential profit target at 0.7880, the second target at 0.7840, and setting stop-loss at 0.7950. A reversal movement can be assumed, considering buying once the pair consolidates above the significant level of 0.7980. The take profit for buys is set at 0.8020, while the stop loss is placed at 0.7950.

For a more precise entry into the sell position, it is best to use the fifteen-minute chart.