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.

 

Advertistment

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

EUR/USD news

Forex

Euro trades near three-week trough on cautious remarks
2023-12-05 07:40AM UTC
Euro fell in European trade on Tuesday against a basket of major rivals, extending losses for the ...
Forex News

Forex

Dollar moves in positive zone despite prospects of early rate cuts
2023-12-04 11:59AM UTC
Dollar rose in European trade on Monday against a basket of major rivals, on track for the third ...
EUR/GBP news

Forex

Sterling gives up three-month high against euro on profit-taking
2023-12-04 11:31AM UTC
Sterling fell in European trade on Monday against euro away from three-month highs and on track for ...

Forex Technical Analysis

EUR USD Analysis

Forex

Evening update analysis for the EURUSD 05-12-2023
2023-12-05 17:01PM UTC
The EURUSD pair shows additional bearish bias to approach our waited negative target at 1.0760, and ...
EUR USD Analysis

Forex

Midday update for the EURUSD 05-12-2023
2023-12-05 10:35AM UTC
The EURUSD pair resumes its negtaive trading in attempt to move away from 1.0860 level, rienforcing ...
EUR JPY Analysis

Forex

The EURJPY still bearish – Analysis – 5-12-2023
2023-12-05 06:00AM UTC
The EURJPY pair formed correctional bullish rebound after touching 158.70 level, taking advantage ...