USDCHF under the negative pressure – Analysis - 15-11-2017

Economies.com
2017-11-15 04:28AM UTC

The USDCHF pair broke the bullish channel's support line strongly and settled below it, to start bearish correction for the rise measured from 0.9420 to 1.0038, as the price started the breaking process to 23.6% Fibonacci correction level at 0.9892, hinting that the decline will extend towards 0.9800 areas in the upcoming sessions.

 

Therefore, the bearish trend will be suggested for today, supported by the negative pressure formed by the EMA50, taking into consideration that the expected decline will remain dominant unless the price managed to breach 0.9910 followed by 0.9955 levels and hold above them.

 

Expected trading range for today is between 0.9800 support and 0.9940 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

USD CHF Analysis

Forex

The USDCHF price faces temporary negative pressure – Forecast today - 29-03-2024
2024-03-29 01:48AM UTC
USDCHF Price Analysis Expected Scenario: Bullish Trend The USDCHF pair rebounded bearishly ...
NZD USD Analysis

Forex

The NZDUSD price keeps its negative stability – Forecast today - 29-03-2024
2024-03-29 01:47AM UTC
NZDUSD Price Analysis Expected Scenario: Bearish Trend The NZDUSD price remains below the ...
AUD USD Analysis

Forex

The AUDUSD price awaits confirmed break – Forecast today - 29-03-2024
2024-03-29 01:47AM UTC
AUDUSD Price Analysis Expected Scenario: Bearish Momentum The AUDUSD price failed to sustain ...