USDCHF touches the target – Analysis - 30-05-2018
Economies.com
2018-05-30 00:48AM UTC
The USDCHF pair succeeded to touch our waited target exactly at 0.9850 and bounced bullishly to settle around 0.9900 level again, noticing that stochastic loses its bullish momentum to move inside the overbought areas, reinforcing the chances of continuing the effect of the double top pattern that appears on the chart, especially that the EMA50 continues to push negatively on the price.
Therefore, the bearish trend will remain suggested in the upcoming period unless breaching 0.9955 level and holding above it, noting that the extended target reaches 0.9723 after breaking 0.9850 level.
Expected trading range for today is between 0.9850 support and 0.9970 resistance.
Expected trend for today: Bearish
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