USDCHF closes the last trading session in the green zone, while the downward price movement vector prevails on the higher time-frame.
The support and resistance levels:
The nearest support level is at the price level of the 0.79277.
The nearest significant resistance level is at the 0.79932 mark.
The pattern formed here is Three Outside Bars Down. This pattern is a combination of three Japanese candlesticks. The first candlestick has a short white real body, the second candlestick has a long black real body and completely engulfs the first candlestick, and the third candlestick is also black, closing below the second candlestick.
Trading recommendations:
During the day, it is worth considering the possibilities for opening short positions. This is indicated by both: the dynamics of price movement over a longer distance and the latest formed pattern.
USDCHF H1: The Price Action Forecast for the European Session on 7.10.2025
