USDCHF: Reversed Head-And-Shoulders!

USDCHF, H4

USDCHF navigates within a reversed head and shoulders patter and aims to test the 0.9030 resistance.

The pattern is bullish, however, the MACD shows a bearish divergence, giving a signs of further decline for the asset which gives us mixed sentiment.

If the price breaks above the 0.9030 it may skyrocket the USDCHF to 0.9200.
However, failing of surpassing the resistance, will trigger a decline toward 0.8920.

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: Timur Yurdagyul

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