The USDCHF attacks the support – Analysis - 28-02-2019

The USDCHF pair begins today’s trading negatively to attack the key support 0.9990, and the price needs to get a four hours’ close initially below this level to confirm activating the negative effect of the head and shoulders’ pattern that its signs appear on the chart, which its main target located at 0.9900.

Until now, we will continue with our neutrality until the price confirms breaking the above mentioned support or breaching 1.0025 resistance to detect its next destination clearly, noting that breaching this resistance will lead the price to resume the main bullish trend that its next target located at 1.0128.

The expected trading range for today is between 0.9900 support and 1.0040 resistance.

The expected trend for today: Neutral