USDCHF completes the negative pattern – Analysis - 19-04-2017

The USDCHF pair traded with strong negativity after completing forming the double top pattern that appears on chart, to approach from our first main waited target at 0.9935, reinforcing the expectations of more decline in the upcoming period.

Therefore, the bearish trend scenario will remain active on the intraday and short term basis, and breaking the targeted level will extend the bearish wave towards 0.9864, while the expected decline will remain valid unless breaching 1.0010 followed by 1.0070 levels and holding above them.

Expected trading range for today is between 0.9900 support and 1.0010 resistance.

Expected trend for today: Bearish