USDCHF has given a breakout from the descending triangle pattern. We might see further long term downside in USDCHF towards the support level. It might consolidate at a minor support level denoted by the dotted line. It is trading in channel pattern after given a breakout from the descending triangle pattern, which can be used for trend confirmation for the downside. One can consider minor support for day trading. Trade can be initiated for short at multiple levels on the downside with proper risk management and stop-loss.

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Vivek_Samale
Vivek_Samale

I have half a decade of experience as a trader and enthusiastically learning & developing new strategies in algorithm trading & also analyzing the companies with New ESG method.