The USDCHF approaches the target – Analysis - 21-11-2023

Economies.com
2023-11-21 04:11AM UTC

The USDCHF pair shows more bearish bias to approach our first target at 0.8810, reminding you that the price is affected by double top pattern that supports the chances of breaking this level followed by extending the bearish wave to reach 0.8710 as a next main station.

 

Therefore, the bearish trend scenario will remain valid and active on the intraday and short-term basis, supported by stochastic negativity that appears now, reminding you that it is important to hold below 0.8888 to continue the expected decline.

 

Advertistment

The expected trading range for today is between 0.8750 support and 0.8890 resistance.

 

The expected trend for today: Bearish

Forex and Currency News

Forex News

Forex

Will the US payrolls report pave the way for early Fed interest rate cuts in 2024?
2023-12-08 09:09AM UTC
Markets today await the crucial US payrolls report to gauge the strength of the US labor sector and ...
Forex News

Forex

Dollar resumes gains ahead of US jobs data
2023-12-08 08:53AM UTC
Dollar rose in European trade on Friday against a basket of major rivals, resuming gains and ...
Forex News

Forex

Dollar gives up three-week high ahead of unemployment claims data
2023-12-07 11:30AM UTC
Dollar declined in European trade on Thursday against a basket of major rivals away from three-week ...

Forex Technical Analysis

EUR USD Analysis

Forex

Evening update analysis for the EURUSD 08-12-2023
2023-12-08 15:04PM UTC
The EURUSD pair attempts to break 1.0760 level again, to hint heading to activate the negative ...
NZD USD Analysis

Forex

Midday update for the NZDUSD 08-12-2023
2023-12-08 10:36AM UTC
The NZDUSD pair keeps its stability above 0.6140 level, to continue suggesting the bullish trend ...
AUD USD Analysis

Forex

Midday update for the AUDUSD 08-12-2023
2023-12-08 10:36AM UTC
The AUDUSD pair settles around 0.6610 since morning, waiting to get positive motive that assist to ...