USDCHF touches the target – Analysis - 02-03-2018

Economies.com
2018-03-02 05:00AM UTC

The USDCHF pair succeeded to touch our main waited target at 0.9488 and bounced downwards clearly from there, to approach testing the key support base formed above 0.9373, noticing that the EMA50 provides the positive support to the price, while stochastic gets rid of its negative momentum to move inside the oversold areas now.

 

Therefore, we believe that the chances are valid to resume the correctional bullish bias in the upcoming sessions, and breaching 0.9488 will confirm opening the way to head towards 0.9581 as a next station, while breaking 0.9373 will put the price within the main bearish track again.

 

Advertistment

Expected trading range for today is between 0.9300 support and 0.9488 resistance.

 

Expected trend for today: Bullish

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 ...
GBP USD Analysis

Forex

Midday update for the GBPUSD 05-12-2023
2023-12-05 10:35AM UTC
The GBPUSD pair fluctuates near the EMA50, and it keeps its stability above 1.2590 level, keeping ...
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 ...