- October 20, 2020
- Posted by: admin
- Category: Forex Broker
Overview: By looking at the daily chart of the USDCHF we can say that the pair is moving at the south side, presently the market is falling downside and making the bear’s aggressive. The market is showing downside momentum in the market. The swings are making successively lower lows and lower highs in the market. The bears are making the negative momentum at the level 0.9102. Presently, bears are leading and playing at the front foot after breaking the important key support levels 0.9250. The day range is between 0.9252-0.9000.
Technical Analysis: From a technical perspective we can say that an uptrend line has been breached out which is providing us bearish signals. Pair is trading below all the major and minor EMA lines. At the 4 hourly chart the market is forming bearish marabuzo candlestick is forming and the market set at the sell side. Odds are favor of the bears and we will get the further bearishness in these pairs.
The RSI is below the 50 levels which is favoring the bears. A bearish crossover on MACD indicator is showing the weakness in the pair. The 0.9167 is key resistance level followed by 0.9210. The 0.9050 level is a key support level followed by 0.9010 level.
Trade idea : From all the above conclusion and studies we would suggest that sell USDCHF at 0.9100 and target at 0.9050 , 0.9000, and stop-loss at 0.9150
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