Source: PaxForex Premium Analytics Portal, Technical Insight

The USD/CHF currency pair is trading at 0.9427 and keeps moving within the correction and descending channel. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Indicator Cloud. This indicates a bearish trend for the currency pair

USD/CHF, 30 min

Pivot: 0.9419

Analysis:

Provided that the currency pair is traded above 0.9405, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 0.9419
• Take Profit 1: 0.9440
• Take Profit 2: 0.9450

Alternative scenario: 

In case of breakdown of the level 0.9405, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.9405
• Take Profit 1: 0.9395
• Take Profit 2: 0.9385

Comment:

RSI shows the possibility of an uptrend momentum. 

Key levels:

USD/CHF, D1

Pivot: 0.9401

Analysis:

While the price is below 0.9530, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 0.9401
• Take Profit 1: 0.9355
• Take Profit 2: 0.9255

Alternative scenario:

If the level 0.9530 is broken-out, follow the recommendations below.

• Time frame: D1
• Recommendation: long position
• Entry point: 0.9530
• Take Profit 1: 0.9650
• Take Profit 2: 0.9770

Comment:

RSI shows the development of a downtrend in the medium-term.

Key levels: