- October 20, 2020
- Posted by: cabana-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
Disclaimer: This is to be considered a marketing communication only, this does not contain, and should not be construed as containing, investment advice or an investment recommendation or investment research or, a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. Past performance is not a guarantee of or prediction of future performance. Cabana Capitals does not take into account your personal investment objectives or financial situation. Cabana Capitals makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast, or other information supplied by an employee of Cabana Capitals, a third party or otherwise. Consequently, any person acting on it does so entirely at their own risk. This material has not been prepared in accordance with legal requirements promoting the independence of investment research and it is not subject to any prohibition on dealing ahead of the dissemination of investment research. All expressions of opinion are subject to change without notice. Any opinions made may be personal to the author and may not reflect the opinions of Cabana Capitals. This communication must not be reproduced or further distributed without prior permission.