USDCHF H1: The price line has broken down under the lower boundary of the symmetrical triangle
The USDCHF chart indicates a likely price decline due to weakening upward momentum.
The formation of a symmetrical triangle can be considered a period of power accumulation before the formation of a new trend. A break through the lower leg of the triangle is often seen as a sign of an impending downward trend.
Thus, in terms of USDCHF, preference should be given to short positions. A trader can enter the market at or around the current prices or when the resistance level is retested.
📌 Entry: 0.77952
✔️ First target: 0.77398
✔️ Second target: 0.77122
❌ Stop order: 0.78371
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