The USDCHF approaches the target – Analysis - 18-10-2019

The USDCHF pair traded with a clear negativity yesterday to surpass the EMA50, and the way is open for achieving our waited target at 0.9836, keeping the bearish bias preferred for today, supported by stochastic negativity.

Note that we need to monitor the price behavior when reaching the targeted level, where the continuation of the negative pressure and breaking it will extend the bearish wave to reach 0.9712 as a next main station, while holding against the negative pressure will lead the price to resume the bullish bias that its targets begin by testing 0.9990 level.

The expected trading range for today is between 0.9800 support and 0.9930 resistance.

The expected trend for today: Bearish