According to AB = CD pattern this seems like that USDCHF would be in a bearish pattern for a while. This can be confirmed from the recent selling from the candlestick pattern. Also bearish flag pattern can be observed which is indicating an even more price reduction but right now it would be interesting to see how the pattern keeps on continuing this trend and follow the Harmonics. The price is trying to break through the fib support of 0.5 (0.93107) and now the next support is at 0.618 (0.92752). It would be interesting to see weather the price goes down to 0.92009 as indicated by the harmonic pattern.
The given price entry and stop loss values are for a risk reward ratio of 1:1.
The given price entry and stop loss values are for a risk reward ratio of 1:1.