Here on Usdchf price form a rising wedge pattern and now try to move down as line 0.90589 break so trader should go for short with expect profit target of 0.89558 .Use money management,# Technical Analysis Overview: USD/CHF Price Movement
## Key Points
– **Rising Wedge Pattern**: The current price action of the USD/CHF currency pair has formed a rising wedge pattern, typically indicating a potential downtrend.
– **Break of Support Level**: A significant break below the support level of 0.90589 signals a bearish sentiment among traders.
– **Short Position Recommendation**: Traders are advised to consider entering short positions at this juncture, anticipating continued downward movement.
– **Profit Target**: The expected profit target for this trade has been set at 0.89558, offering a viable risk-reward scenario.
– **Emphasis on Money Management**: The importance of strict money management practices is highlighted, encouraging traders to manage their risk effectively.
## Closing Thoughts
Given the formation of the rising wedge and the recent break of the 0.90589 support level, it appears to be a critical moment for traders to capitalize on a potential downturn in the USD/CHF currency pair. Setting a profit target at 0.89558 can provide an attractive return, but adhering to disciplined money management principles will be crucial to mitigate risks.
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