USDCHF under the negative pressure – Analysis - 15-11-2017

Economies.com
2017-11-15 04:28AM UTC

The USDCHF pair broke the bullish channel's support line strongly and settled below it, to start bearish correction for the rise measured from 0.9420 to 1.0038, as the price started the breaking process to 23.6% Fibonacci correction level at 0.9892, hinting that the decline will extend towards 0.9800 areas in the upcoming sessions.

 

Therefore, the bearish trend will be suggested for today, supported by the negative pressure formed by the EMA50, taking into consideration that the expected decline will remain dominant unless the price managed to breach 0.9910 followed by 0.9955 levels and hold above them.

 

Expected trading range for today is between 0.9800 support and 0.9940 resistance.

 

Expected trend for today: Bearish

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