The USDCHF attempts to recover – Analysis
The USDCHF pair provided clear positive trades yesterday to test the key resistance 0.9370, accompanied by witnessing clear positive signals through stochastic, to form negative pressure that makes us suggest witnessing negative trades today followed by heading towards 0.9295 and 0.9215 levels as main negative targets.
Therefore, the bearish bias will be expected in the upcoming session conditioned by the price stability below 0.9370, as breaching this level will push the price to achieve additional gains and test 0.9435 before any new attempt to decline.
Therefore, the bearish bias will be expected in the upcoming session conditioned by the price stability below 0.9370, as breaching this level will push the price to achieve additional gains and test 0.9435 before any new attempt to decline.
Trade active:
The USDCHF achieves temporary gains
The USDCHF pair bounced downwards strongly to surpass our first negative target at 0.9295 and gradually approaches the second target at 0.9215, reinforcing the expectations of continuing the main bearish trend, and we suggest surpassing the last level to open the way to head towards 0.9100 areas on the near term basis.
Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that holding below 0.9300 represents initial condition to continue the expected decline.
The USDCHF pair bounced downwards strongly to surpass our first negative target at 0.9295 and gradually approaches the second target at 0.9215, reinforcing the expectations of continuing the main bearish trend, and we suggest surpassing the last level to open the way to head towards 0.9100 areas on the near term basis.
Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that holding below 0.9300 represents initial condition to continue the expected decline.
Trade closed: target reached:
The USDCHF hits the second target
The USDCHF pair managed to achieve our second waited target at 0.9215 and attempts to confirm breaking it, reinforcing the expectations of continuing the domination of the bearish trend, reminding you that our next target reaches 0.9100.
Holding below 0.9265 represents key condition to continue the expected decline, as breaching it will push the price to start recovery attempts and head towards 0.9340 followed by 0.9435 areas as main positive targets.
The USDCHF pair managed to achieve our second waited target at 0.9215 and attempts to confirm breaking it, reinforcing the expectations of continuing the domination of the bearish trend, reminding you that our next target reaches 0.9100.
Holding below 0.9265 represents key condition to continue the expected decline, as breaching it will push the price to start recovery attempts and head towards 0.9340 followed by 0.9435 areas as main positive targets.