USDCHF begins to activate the negative pattern – Analysis - 12-01-2017
Economies.com
2017-01-12 05:31AM UTC
The USDCHF pair bounced strongly to the downside after testing the key resistance 1.0210 yesterday, to start pushing on the bearish pennant's support that appears on chart, which supports the continuation of the bearish trend scenario efficiently in the upcoming sessions, which its next main target located at 0.9996.
Therefore, our bearish overview will remain valid for today supported by the negative pressure provided by the EMA50, noting that breaching 1.0210 level will stop the current negative pressure and lead the price to attempt to regain the main bullish trend.
Expected trading range for today is between 1.0000 support and 1.0180 resistance.
Expected trend for today: Bearish
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