USD/CHF: gameplan and our prediction on what is bound to happen

Undoubtedly, after an impulsive leg, a correctional one is needed. Analysing the HTF view of USD/CHF, we may observe that the price has experienced a massive drop and it needs some rest before POTENTIALLY dropping even deeper. Therefore, we are eyeing the zone of support illustrated on the graph for entering short-term long positions and aiming for the 50% FIBONACCI retracement level drawn from the top of the recent bearish impulse.