In the current timeframe, there is a decrease in the selling interest. This may lead to the reversal of USDCHF.
A classic Head and Shoulders pattern emerged on the chart. The neckline in green has been apparently pierced, confirming the completion of this reversal pattern. This is an important signal indicating a potential price increase. It is important to be vigilant for possible retesting of the Neckline, which often occurs as this pattern develops.
Currently, trading USDCHF assumes the priority of long positions. A trader can enter the market both at the current levels or when retesting of the resistance level occurs.
📌 Entry: 0.79576
✔️ First target: 0.81161
✔️ Second target: 0.81592
❌ Stop order: 0.78285
