USDCHF Daily and 4H Technical analysis
The market is flat (Ranging) , Price is currently bearish and currently at its monthly target and a Support area. The stochastic is almost in the overbought area so we can expect price to start going up . Price will either go straight up to its target MR1 (resistance) or go up to resistance at MPP and create a double bottom and go up depending on where the new monthly pivots are positioned.
Market is Bearish , Price is bearish. We are current in a weekly profit and have a candle with a long wick which came off WS2 (support) so we can expect the market to move up to the area between WM2 and WPP (resistance) . We can expect a roll reversal off the 61.8 Fib (WM1) and moving up to its target at WPP