USD/CHF Trading Analysis (30/07/2024)

The trend is down. The pair is trading in the range between 365 and 135 ЕМА. The ascending inner wave structure is truncated. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the overbought condition. 

Trading idea:

• Sell when the formation of the downward wave structure begins, when the wave A breaches the sloping channel of the ascending truncated structure.
• Stop-loss at 0.8874 over the local maximum of the ascending structure.
• Target levels at 0.8820 and 0.8780.

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