USDCHF Technical Analysis 16/09/2024

Let's analyze the pair across different timeframes. First, prices have reached a support zone on the monthly chart, meaning we should look for reversal signals. Higher timeframes are more reliable since they encompass more data.

Looking at the daily chart, I’ve drawn a falling wedge pattern. The pattern has just broken out, and the price has made a pullback to the support level. The large-wick candle indicates buyer reaction at this level.

On the 4-hour chart, there is an ascending trendline. If prices touch this trendline and a high-volume green momentum candle forms, it can be interpreted as a BUY signal.