Today, we will analyze USD/CHF on the 4H chart, as it is in an interesting situation, and it is likely that in the short term, we will see a new upward movement in this pair in the short term.
🔸As we can see, multiple structures were broken upwards.
🔸First, there was a breakout of the descending channel . Then the price generated a bullish momentum and a great consolidation, which was broken a short time ago.
🔸Now, we see that the price is making a small corrective structure. We consider that it still needs to correct a little.
🔸If we see a breakout to the upside of this movement, the price may make a new bullish momentum.
🔸The macro target is the Resistance zone marked in the horizontal rectangle , BUT we must take into account the maximum of the local structure just in case.
🔸As we can see, multiple structures were broken upwards.
🔸First, there was a breakout of the descending channel . Then the price generated a bullish momentum and a great consolidation, which was broken a short time ago.
🔸Now, we see that the price is making a small corrective structure. We consider that it still needs to correct a little.
🔸If we see a breakout to the upside of this movement, the price may make a new bullish momentum.
🔸The macro target is the Resistance zone marked in the horizontal rectangle , BUT we must take into account the maximum of the local structure just in case.
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