USD/CHF (a 4- hour chart)
The pair is still within a descending channel. Now the quotes are near the bottom of the channel, from which an upward correction may be developed. Technically the pair is moving to the upper boundary of the channel. The USD/CHF has the potential to fall to the area 0.8870.
Tenkan-sen is crossed with Kijun-sen from the bottom up under the cloud, forming the shape of the trend reversal "Golden Cross". Chinkou Span line crosses the price chart from the bottom up, the cloud remains descending. The support levels are Tenkan-sen (0.8952) and Kijun-sen (0.8936). The next obstacle is the lower limit of the cloud (0.9016).
The pair will return to the upward movement if it gets back above the cloud. If the price returns above the Kijun-sen, the sell signal will be weakened and the further falling will be put under the question.
Bollinger Bands indicates the change of the trend. Its bands are widening.
The MACD is in a negative area right now.
We received signals of the trend reversal and the opening of long positions with the target 0.9016. However, on the daily chart the upward movement appears to be just a correction. The resistance level 0.9016-0.9018 is confirmed.
We recommend opening a long position with stop-loss at around 0.8889. The target levels are 0.9040 and 0.9174.