The USDCHF retests the neckline – Analysis - 08-11-2023

Economies.com
2023-11-08 03:58AM UTC

The USDCHF pair continued to rise to rest the broker neckline of the double top pattern, and the EMA50 meets this level to add more strength to it, waiting to resume the negative trading that its targes begin by breaking 0.8968 to open the way to head towards 0.8889.

 

Therefore, the bearish trend scenario will remain active conditioned by the price stability below 0.9020.

 

The expected trading range for today is between 0.8940 support and 0.9060 resistance.

 

The expected trend for today: Bearish

Forex and Currency News

Forex News

Forex

Dollar gives up one-week high ahead of Waller's remarks
2024-05-24 12:04PM UTC
Dollar fell in European trade on Friday against a basket of major rivals, giving up one-week highs ...
GBP/USD news

Forex

Sterling backs off two-month high after grim data
2024-05-24 07:44AM UTC
Sterling fell in European trade on Friday against a basket of major rivals, extending losses for ...
USD/JPY news

Forex

Yen hovers near three-week low under supervision of BOJ
2024-05-24 04:05AM UTC
Yen declined in Asian trade on Friday against a basket of major rivals, extending losses for the ...

Forex Technical Analysis

GBP USD Analysis

Forex

The GBPUSD forecast update 24-05-2024
2024-05-24 09:12AM UTC
GBPUSD Price Analysis Expected Scenario The GBPUSD price trades positively to attempt to ...
EUR USD Analysis

Forex

The EURUSD price forecast update - 24-05-2024
2024-05-24 09:12AM UTC
EURUSD Price Analysis Expected Scenario The EURUSD price shows some bullish bias to test ...
Technical Analysis

Forex

The GBPCAD continues to rise – Forecast today – 24-5-2024
2024-05-24 09:01AM UTC
GBPCAD Price Analysis Expected Scenario The GBPCAD price repeated the positive closings ...