USDCHF gets a negative signal – Analysis - 06-12-2017

Economies.com
2017-12-06 05:00AM UTC

The USDCHF pair surpassed the correctional bearish channel's resistance yesterday to test the most important resistance at 0.9892, as the price keeps its stability below this level until now, which keeps the bearish trend scenario valid until now, supported by the negative overlapping signal that stochastic begins to provide now.

 

Therefore, we will continue to suggest the bearish trend in the upcoming sessions, and the first target is represented by breaking 0.9800 level to confirm extending the bearish wave towards 0.9730, noting that breaching 0.9892 will stop the current correctional bearish scenario and lead the price to return to the main bullish trend again.

 

Expected trading range for today is between 0.9770 support and 0.9900 resistance.

 

Expected trend for today: Bearish

 

Forex and Currency News

Forex News

Forex

Dollar hits six-week high ahead of US growth data
2024-03-28 11:38AM UTC
US Dollar's Rise in European Trade The US dollar rose in European trade on Thursday against a ...
EUR/USD news

Forex

Euro sharpens decline to five-week trough on the interest rate gap
2024-03-28 08:30AM UTC
Euro declined in European trade on Thursday against a basket of major rivals, sharpening losses for ...
Forex News

Forex

Dollar under pressure ahead of Christopher Waller's speech
2024-03-27 11:18AM UTC
The dollar declined in European trade on Wednesday against a basket of major rivals away from ...

Forex Technical Analysis

EUR USD Analysis

Forex

End of day EURUSD price forecast update - 28-03-2024
2024-03-28 17:42PM UTC
The EURUSD price provided additional negative trades to reach the thresholds of the first waited ...
NZD USD Analysis

Forex

The NZDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
NZDUSD Price Analysis The NZDUSD price resumes its negative trading to move away from 0.6000$ ...
AUD USD Analysis

Forex

The AUDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
AUDUSD Price Analysis The AUDUSD price achieved initial break to 0.6500$ level and closed the ...