USDCHF still stuck – Analysis - 01-12-2017

The USDCHF pair approached the key resistance 0.9892 yesterday and bounced bearishly from there, as this resistance represents one of the next trend keys besides 0.9800 support, and we still waiting to breach one of these levels to detect the next targets clearly, to keep our neutrality valid until now, especially that there is a contradiction between stochastic positivity and the negative pressure formed by the EMA50.

Note that breaking 0.9800 will push the price for more bearish correction that its next target reaches 0.9730, while breaching 0.9892 will stop the mentioned bearish correction and push the price to return to the main bullish trend, which its first target located at 1.0038.

Expected trading range for today is between 0.9760 support and 0.9920 resistance.

Expected trend for today: Depends on the above mentioned levels