The USDCHF draws negative formation – Analysis - 20-01-2021
Economies.com
2021-01-20 04:51AM UTC
The USDCHF pair could not manage to breach 0.8923 level, to rebound bearishly and approaches the key support 0.8860, to witness signs of double top pattern that we believe it will push the price to resume the main bearish trend again, noting that breaking the mentioned support will confirm the continuation of the decline towards 0.8760 areas on the near term basis.
Therefore, we expect witnessing negative trades in the upcoming sessions unless the price managed to breach 0.8923 and hold above it.
The expected trading range for today is between 0.8800 support and 0.8925 resistance.
The expected trend for today: Bearish
Forex and Currency News
Forex
Yen moves in negative zone under supervision of Japanese authorities
2024-05-08 04:36AM UTC
Yen declined on Wednesday in Asian trade against a basket of major rivals, extending losses for the ...
Forex
Dollar regains footing ahead of important Fed remarks
2024-05-07 11:34AM UTC
Dollar rose in European trade on Tuesday against a basket of major rivals, holding ground above ...
Forex
Aussie is worst performing major currency after RBA's decision
2024-05-07 08:01AM UTC
The Australian dollar fell in European trade on Tuesday against a basket of major rivals, moving ...
Forex Technical Analysis
Forex
The NZDUSD price forecast update 08-05-2024
2024-05-08 09:36AM UTC
NZDUSD Price Analysis Expected Scenario The NZDUSD price presses on the key support ...
Forex
The AUDUSD price forecast update 08-05-2024
2024-05-08 09:36AM UTC
AUDUSD Price Analysis Expected Scenario The AUDUSD price achieved initial break to ...
Forex
The GBPUSD forecast update 08-05-2024
2024-05-08 09:36AM UTC
GBPUSD Price Analysis Expected Scenario The GBPUSD price achieved initial break to ...