The USDCHF forms negative pattern – Analysis - 15-11-2023
The USDCHF pair faced strong negative pressure yesterday to break 0.8968 and reach 0.8888 direct, noticing that the price presses on this level in attempt to break it, and by taking a deeper look at the chart, we find that the price forms double top pattern that its confirmation line located at 0.8888, which means that breaking this level will provide strong negative motive that pushes the price towards 0.8810 followed by 0.8710 levels as next negative stations.
The EMA50 forms negative pressure against the price to support the continuation of the expected bearish trend, which will remain valid unless the price rallied to breach 0.8968 and hold above it.
The expected trading range for today is between 0.8880 support and 0.8950 resistance.
The expected trend for today: Bearish
Forex and Currency News
Forex
Euro trades near three-week trough on cautious remarks
Euro fell in European trade on Tuesday against a basket of major rivals, extending losses for the ...
Forex
Dollar moves in positive zone despite prospects of early rate cuts
Dollar rose in European trade on Monday against a basket of major rivals, on track for the third ...
Forex
Sterling gives up three-month high against euro on profit-taking
Sterling fell in European trade on Monday against euro away from three-month highs and on track for ...
Forex Technical Analysis
Forex
Evening update analysis for the EURUSD 05-12-2023
The EURUSD pair shows additional bearish bias to approach our waited negative target at 1.0760, and ...
Forex
Midday update for the GBPUSD 05-12-2023
The GBPUSD pair fluctuates near the EMA50, and it keeps its stability above 1.2590 level, keeping ...
Forex
Midday update for the EURUSD 05-12-2023
The EURUSD pair resumes its negtaive trading in attempt to move away from 1.0860 level, rienforcing ...