USDCHF Top-Down Review

Summary
Weekly: Neutral
Daily : Neutral/Bearish
4 Hour: Bearish
1 Hour: Bearish


Weekly Timeframe



Price is trading with large volatility within a range 1.036 to 1.230.

Daily Timeframe



The long-term view is that price is moving within a deep-retracement range following up upward trend last year, and any clear direction will require a breach of the levels shown in solid blue on the chart.

Price has recently been in a wide ascending wedge formation following a upward trend. Unlike flags, which pullback against the trend, these wedge formations tend to be bearish in nature, and over the last week price has fallen rapidly out of the pattern.

4 Hour Timeframe



Price has been trading in a 500 pip range since the end of January. The lower bound of that range has recently been breached. Currently the price is consolidating around 1.12. A break below this level may see a price move down to 1.087.

1 Hour Timeframe



Price is in a downward trend. A recent failure to make a lower low indicates the potential for either a retracement or a consolidation region followed by breakout.