USDCHF at the critical support – Analysis - 25-02-2019

Economies.com
2019-02-25 05:16AM UTC

The USDCHF pair continues to fluctuate at the key support 0.9990, and as we mentioned in our last report, this level represents the neckline of a negative pattern represented by the head and shoulders’ that its signs appear on the chart, which means that breaking it will put the price under negative pressure that targets 0.9900 level direct.

 

The EMA50 forms negative pressure against the price to threat the recently suggested positive scenario, which makes us prefer staying aside until the price confirms its situation according to 0.9990 support and 1.0025 resistance, noting that breaching this resistance will cancel the suggested negative formation and push the price to regain the bullish trend that its next target located at 1.0128.

 

The expected trading range for today is between 0.9940 support and 1.0060 resistance.

The expected trend for today: Neutral

Forex and Currency News

Forex News

Forex

Dollar hits six-week high ahead of US growth data
2024-03-28 11:38AM UTC
US Dollar's Rise in European Trade The US dollar rose in European trade on Thursday against a ...
EUR/USD news

Forex

Euro sharpens decline to five-week trough on the interest rate gap
2024-03-28 08:30AM UTC
Euro declined in European trade on Thursday against a basket of major rivals, sharpening losses for ...
Forex News

Forex

Dollar under pressure ahead of Christopher Waller's speech
2024-03-27 11:18AM UTC
The dollar declined in European trade on Wednesday against a basket of major rivals away from ...

Forex Technical Analysis

NZD USD Analysis

Forex

The NZDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
NZDUSD Price Analysis The NZDUSD price resumes its negative trading to move away from 0.6000$ ...
AUD USD Analysis

Forex

The AUDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
AUDUSD Price Analysis The AUDUSD price achieved initial break to 0.6500$ level and closed the ...
GBP USD Analysis

Forex

The GBPUSD forecast update 28-03-2024
2024-03-28 10:19AM UTC
GBPUSD Trading Analysis The GBPUSD price shows calm bearish bias to gradually approach our first ...