Source: PaxForex Premium Analytics Portal, Technical Insight

The USD/CHF currency pair is trading at the level of 0.9097 and keeps moving within the correction and formation of the Triangle pattern. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Indicator Cloud. It indicates a bearish trend for the pair Dollar Franc.

USD/CHF, 30 min

Pivot: 0.9086

Analysis:

Provided that the currency pair is traded below 0.9115, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.9086
• Take Profit 1: 0.9075
• Take Profit 2: 0.9060

Alternative scenario: 

In case of breakout of the level 0.9115, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 0.9115
• Take Profit 1: 0.9140
• Take Profit 2: 0.9160

Comment:

RSI shows the possibility of a descending momentum. 

Key levels:

USD/CHF, D1

Pivot: 0.9138

Analysis:

While the price is below 0.9355, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 0.9138
• Take Profit 1: 0.9040
• Take Profit 2: 0.8940

Alternative scenario:

If the level 0.9355 is broken-out, follow the recommendations below.

• Time frame: D1
• Recommendation: long position
• Entry point: 0.9355
• Take Profit 1: 0.9465
• Take Profit 2: 0.9530

Comment:

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

Key levels: